Question: Bishop Company issued 10% bonds on January 1, 2016 with a par value of $200,000. The bonds mature in 10 years and yield 12% interest. Interest is paid semiannually on June 30 and December 31. Determine the issue price of the bonds to the nearest dollar.
A. $224,900
B. $177,100
C. $177,400
D. $190,200
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