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Cullumber Company received proceeds of $406000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $380000, pay interest

Cullumber Company received proceeds of $406000 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $380000, pay interest annually on December 31, and have a call price of 102. Cullumber uses the straight-line method of amortization. What is the carrying value of the bonds on December 31, 2021?

$380000

$400800

$359200

$403400

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