On January 1,Patterson Inc. issued $5,000,000,9% bonds for $4,695,000.The market rate of intrest for these bonds is 10%.Interest is payable annually on December 31.Patterson uses the effective-interest of amortizing bond discount.At the end of the first year,Patterson should report unamortized bond discount of ?
A)$274,500
B)$285,500
C)$258,050
D)$255,000