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Basil Company issued $610,000, 8%, 5-year bonds for 107, with interest paid annually. Assuming straight-line amortization, what is the carrying value of the bonds after

Basil Company issued $610,000, 8%, 5-year bonds for 107, with interest paid annually.

Assuming straight-line amortization, what is the carrying value of the bonds after one year?

Show calculations.

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