Stargaze Company was offered the following terms for the purchase of a new machine:a down payment of $6,000 on January 1, 2020 and semiannual payments of $6,000 starting on June 30, 2020 for the next 42 months. Alternatively, Stargaze Company could pay cash for the machine and finance its acquisition with a loan from its local bank at an 8% annual interest rate. At what amount (rounded to the nearest dollar) should the machine be recorded on books of Stargaze Company on the acquisition date?

a. $31,737

b. $35,238

c. $35,453

d. $42,012

e. None of the above