A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2011. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,703,109.
Using straight-line amortization, what is the carrying value of the bonds on December 31, 2013?
a. $14,752,673
b. $14,955,466
c. $14,725,375
d. $14,747,642
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Home » Business » A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2011. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,703,109.