A company issues $20,000,000, 7.8%, 20-year bonds to yiel d 8% on January 1, 2013....
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Accounting
A company issues $20,000,000, 7.8%, 20-year bonds to yiel
d 8% on January 1, 2013. Interest is paid on June 30 and
December 31. The proceeds from the bonds are $19,604,144. Us
ing straight-line amortization, what is the carrying value
of the bonds on December 31, 2015?
a. $19,670,232
b. $19,940,624
c. $19,633,832
d. $19,663,522
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