Swanson Inc. purchased $400,000 of Malone Corp., ten year bonds with a stated interest rate of 8% payable semiannually. At the time the bonds were purchased, the market rate was 12%. Determine the amount of premium on discount on the purchase of the bonds to be recorded on Swanson's books Select one: a $308,240 premium b. $ 16,000 discount o cno discount or premium is recorded d. $308,240 discount