On September 1,2016,Red Co

On September 1,2016,Red Co. ,issued $48 million of its 10% bonds at face value.The bonds are dated June 1,2016,and mature on May 30,2026.Interest is payable semiannually on June 1 and December 1.At the time of issuance,Red would receive cash proceeds that would include accrued interest of:

A) Zero.
B) $ 600,000.
C) $1,200,000.
D) $4,800,000.