On January 1, 2020, MMM Inc. issues $100,000 face value, 8% semiannual coupon bonds maturing in 10 years for $114,878. The bonds pay interest on June 30 and December 31 of each year. The market initially prices these bonds to yield 6% compounded semiannually. How much interest expense will MMM Inc. report on its income statement for the year ending December 31, 2020? Select one: a. $8,000 b. $7,429 c. $6,876 d. $6,893 e. $4,573

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