On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond

Question:

On January 1, a company issued a 5-year $100,000 bond at 6%. Interest payments on the bond of $6,000 are to be made annually. If the company received proceeds of $112,300, how would the bond’s issuance be quoted?
A. 1.123
B. 112.30
C. 0.890
D. 89.05

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