On January 1, a Company Issues 8%, 5 Year, $300,000

On January 1, a company issues 8%, 5 year, $300,000 bonds that pay interest semiannually. On the issue date, the annual market rate of interest is 6%. The following information is taken from present value tables: What is the issue (selling) price of the bond?

A) $420,000
B) $402,362
C) $300,010
D) $308,107
E) $325,592