A $$20,000,7\%$ bond payable semi$-$annually is purchased eight years before maturity. Calculate the purchase price and discount on the bond if the quoted price on the date of purchase was $92\mathrm{.}5.$

Select one:

a$.$ Purchase Price $=18,600$

Discount $=,$$$1,400$

b$.$ Purchase Price $=$$$20,000$

Discount $=,$$$1,400$

c$.$ Purchase Price $=$$$19,907\mathrm{.}5$

Discount $=,$$$92\mathrm{.}5$

d$.$ Purchase Price $=$$$18,500$

Discount $=$$$1,$$$00$