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Question
On January 1, 2013, Jacob issues $800,000 of 9%, 13-year bonds at a price of 96. Six years later, on January 1, 2019, Jacob retires 20% of these bonds by buying them on the open market at 105 . All interest is accounted for and paid through December 31, 2018, the day before the purchase. The straight-line method is used to amortize any bond discount or premium. What is the carrying value of the bond on January 1, 2019?
A. $772,000
B. $831,076
C. $784,924
D. $277,000
E. $800,000
Answer
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Related questions
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Q:
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