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On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective...

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Accounting

On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective interest rate of 8%. The bonds make a cash interest payment each year on December 31. What is the carrying value of the bonds (i.e., the remaining bond liability) on December 31, 2024 (after 6 years have passed)?

Select one:

a. $2,000,000.00

b. $2,132,485.07

c. $1,825,789.57

d. $2,184,915.19

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