Baskin issued 700.000 of 8%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. The cash proceeds were $654,758 and the market rate on the issue date was 10% Assuming Baskin uses the effective interest method, the carrying value of the bonds at December 31, 2019 is closest to 5669.695 $659,496 $664,471 $700,000 $654.758