Terps Corporation issued $200,000 of 10-year bonds on January 1. The bonds pay interest on January 1 and July 1 and have a stated rate of 10 percent. If the market rate of interest at the time the bonds are sold is 8 percent, what will be the issuance price of the bonds (pick the closest answer)?

Group of answer choices

$175,078

$211,283

$215,902

$227,183