19. A mortgage note which has a contract rate of interest of 12 percent per annum was sold, after two years, at a price to yield the buyer a 10 percent rate of return if the note is held until maturity. The note:

a. was sold at a discount (i.e., for less than the remaining principal balance).

b. was sold at a premium (i.e., for more than the remaining principal balance).

c. was sold at par (i.e., for exactly the remaining principal balance).

d. There is insufficient information to determine which of choices (a) through (c) is correct.