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A company issues $15600000, 9.8%, 20-year bonds to yield 10% on January 1, 2017. Interest...

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Accounting

A company issues $15600000, 9.8%, 20-year bonds to yield 10% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $15332318. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2017 balance sheet?

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