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The Issuance of Bonds: Interest and Yield

On July 15, 2000, Green Valley Cooperative issued $400,000 of bonds with a stated interest rate of 8%, payable annually. These bonds mature 20 years after issuance and yielded 6% on the sale. Therefore, the bonds were issued at:
A. a premium
B. a discount
C. total future value
D. face value

$2.19