On January 1, Concord Corporation issued $4300000, 9% bonds for $3995000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Concord uses the effective-interest method of amortizing bond discount. At the end of the first year, Concord should report unamortized bond discount of
a. $265050.
b. $262000.
c. $281500.
d. $292500.
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