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  3. a company issues $25,000,000, 7.8%, 20-year bonds

A company issues $25,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2019. Interest...

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Accounting

A company issues $25,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2019. Interest is paid on June 30 and December 31. The proceeds from the bonds are $24,505,180. Using straight-line amortization, what is the carrying value of the bonds on December 31, 2021?

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