Current Attempt in Progress Skysong Incorporated issued $0.68 million of 6.5%, 10-year bonds on July 1,2019, at face value. Interest is payable each December 31. The company has chosen to apply the fair value option in accounting for the bonds. A risk assessment at December 31, 2020. shows that Skysong's credit risk has increased, and as a result of the increased credit risk, the fair value of the bonds is $612,000 on that date.