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Cullumber AG issues 1.900 convertible bonds at January 1, 2022. The bonds have a 3-year life and are issued at par with a face value

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Cullumber AG issues 1.900 convertible bonds at January 1, 2022. The bonds have a 3-year life and are issued at par with a face value of 1,000 per bond, giving total proceeds of 1.900,000. Interest is payable annually at 6%. Each bond is convertible into 250 ordinary shares (par value of E1). When the bonds are issued, the market rate of interest for similar debt without the conversion option is 8%. Cullumber AG converts its convertible bonds on January 1, 2023. (a) Your answer is incorrect Compute the carrying value of the bond payable on January|1, 2023. (Round answer to O decimal places. es. 5.225) Carrying value e Textbook and Media List of Accounts

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