A company issues $30,000,000 face value of fi ve-year bonds dated January 1, 2015 when the market interest rate on bonds of comparable risk and terms is 5%. Th e bonds pay 4% interest annually on December 31. Based on the eff ective interest rate method, the carrying amount of the bonds on December 31, 2015 is c losest to:

A . $28,466,099.

B . $28,800,000.

C . $28,936,215.