Multiple Choice
A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2013. Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. Using straight-line amortization, what is the carrying value of the bonds on December 31, 2015?
A) $9,835,115
B) $9,970,311
C) $9,816,916
D) $9,831,761
Correct Answer:
Verified
Correct Answer:
Verified
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