ANSWER :-
Answer is ( C ) = $19,700,000
Cash received for bonds = 20,000,000 / 100 x 97
= $19,400,000
Add interest = (20,000,000 x 9% x 2/12)
= 300.000
Total cash received = 19,400,000 + 300.000
= $19,700,000
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