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Bonds with a stated interest rate of 9% and a face value totaling $628,000 were...

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Accounting

Bonds with a stated interest rate of 9% and a face value totaling $628,000 were issued for $653,120 on January 1,2021, when the market interest rate was 8%. The company uses effective-interest bond amortization.
Required:
Determine the carrying value of the bonds at December 31,2022.(Round your answer to nearest whole dollar.)

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