On July 1, 20A, Wilson Company issued $300,000, five-year, 9% bonds at 103. The reason Wilson issued the bonds at a premium was:
a. the stated rate of interest was higher than the rate being paid on investments with comparable risk.
b. the stated rate of interest was the same as the rate being paid on investments with comparable risk.
c. the stated rate of interest was lower than the rate being paid on investments with comparable risk.
d. the bonds were callable.
e. None of the above is correct.