24. Johnson Company issued a $10,000 face value bond on January 1, Year 1 at 96. The five-year term bond had a 7% stated rate of interest that is payable in cash on December 31st of each year. The market rate at the time of issue was 8%. Johnson uses the effective interest rate method to account for bonds. Based on this information alone, the amount of total liabilities (bond carrying value) shown on Johnson's December 31, Year 3 balance sheet would be closest to: A $10,000 B. $9,820 C. $9,600. D. $9.742