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ASAP! Thank you! On January 1, 2019, Company X issued $550,000 of twenty-year bonds when...

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Accounting

ASAP! Thank you!

On January 1, 2019, Company X issued $550,000 of twenty-year bonds when a market rate was 2%. The annual Interest payment each year is $22,000. What is the carrying value of the bonds after the interest payment on December 31, 2020?

Select one:

A. $550,000

B. $628,780.90

C. $631,826.11

D. $714,912.34

Answer & Explanation Solved by verified expert
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