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A firm has $8,000,000 of 9.5% 25 year bonds dated May 1, 2015 with interest...

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Accounting

A firm has $8,000,000 of 9.5% 25 year bonds dated May 1, 2015 with interest payable on April 30 and October 31. The corporations fiscal year ends on December 31, and it uses the straight line method to amortize bond premiums. Assume the bonds are issued at 103.5 on May 1, 2015.

What would be the carrying value of the bonds as of April 30, 2016 (one year later)?

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