(Answered) Golden company received proceeds of 94250 on 10-year 8

Accounting

Golden Company received proceeds of $94,250 on 10-year, 8% bonds issued on January 1, 2006. The bonds had a face value of $100,000, pay interest annually on December 31st, and have a call price of 101. Golden uses the straight-line method of amortization.

What is the amount of interest Golden must pay the bondholders in 2006?

a. $7,540

b. $8,000

c. $8,575

d. $7,425

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