A $900, 000, Ten-Year, 12% Bond Issue Was Sold to Yield

Multiple Choice

A $900, 000, ten-year, 12% bond issue was sold to yield 10%.Interest was payable annually.Actuarial information for ten periods follows: $\begin{array}{lll}&10\%&12\%\\\text { Present value of } 1 &0.38554& 0.32197 \\\text { Present value of } \text { anmuity of } 1 & 6.14457 & 5.65022\end{array}$ How much cash was received when the bonds were issued?

A) $ 899, 997
B) $ 957, 210
C) $ 388, 624
D) $1, 010, 600