Discount-Mart issues $14 million in bonds on January 1, 2021. The bonds have a seven-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Interest Date 01/01/2021 Cash Paid Expense Increase in Carrying Value Carrying Value $12,521,163 06/30/2021 $420,000 $500,847 $80,847 12,602,010 12/31/2021 420,000 504,080 84,080 12,686,090 06/30/2022 420,000 507,444 87,444 12,773,534 12/31/2022 420,000 510,941 90,941 12,864,475 What is the carrying value of the bonds as of December 31, 2022?