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Desoto Company issued $400,000 of 8%, 10-year bonds at 102. Interest is paid semi-annually. Assume that the market rate for similar bonds is 7%. What

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Desoto Company issued $400,000 of 8%, 10-year bonds at 102. Interest is paid semi-annually. Assume that the market rate for similar bonds is 7%. What is the carrying value of the bonds after the first interest date

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