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On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective...

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Accounting

On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective interest rate of 8%. The bonds make a cash interest payment each year on December 31. What is the issue price of the bonds on January 1, 2019?

Select one:

a. $2,301,443.12

b. $1,727,452.33

c. $2,000,000.00

d. $2,268,403.26

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