6. The City of Naples has investments in bonds. These bonds have an carrying value...
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6. The City of Naples has investments in bonds. These bonds have an carrying value of $3,997,000. At year end, the financial press reports a market value of $3,994,600 for these bonds. The original cost of the bonds was $3,993,000. The par value at maturity will be $4,000,000. The amount at which the investments would be reported is:
$4,000,000
$3,994,000
$3,997,000
$3,993,000
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