On January 1, 2011, Rob pays $92,550 for corporate bonds that have a $100,000 face value. The bonds were originally issued 10 years earlier for $94, 660. Prior to January 1, 2011, the previous owner had included $3,100 of original issue discount (OID) in gross income. On January 1, 2011, the amortized carrying value (AVC) of the bonds is:
a. $95,650.
b. $92,550.
c. $96,900.
d. $93,800.
e. $97,760