On July 15, 2014, Dyce Inc. (Dyce) will be making a $6,000,000 bond issue to public investors. The bond matures in six years on July 14, 2020, has a coupon rate of 6 percent, and pays interest annually on July 14. Determine how much Dyce will receive in proceeds from its bond if the effective interest rate when the bond is issued is

a. 5 percent

b. 6 percent

c. 7 percent