Discount-Mart issues $16 million in bonds on January 1, 2012. They have a nine-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.

Date	Cash Paid	Interest Expense	Increase in Carrying Value	Carrying Value
1/1/12				$14,129,666
6/30/12	$640,000	$706,483	$66,483	14,196,149
12/31/12	640,000	709,807	69,807	14,265,956
6/30/13	640,000	713,298	73,298	14,339,254
12/31/13	640,000

What is the carrying value of the bonds as of December 31, 2013? (Round your answer to the nearest dollar amount.)

$14,339,254.

$14,265,956.

$14,416,217.

$15,696,217.