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Rossville Corporation issued a ten-year $2,000,000 bond that had a 10 percent face interest rate...

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Accounting

Rossville Corporation issued a ten-year $2,000,000 bond that had a 10 percent face interest rate that is paid semi-annually when the market interest rate was 8 percent. What are the proceeds generated by this bond issue (using tables, round to dollars)?
a. $1,359,030 proceeds
b. $2,342,016 proceeds
c. $2,000,000 proceeds
d. $2,271,830 proceeds

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