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Hooker Company sells $200,000 of ten-year, 8% bonds to yield 10% on January 1, 2011. The bonds pay interest annually on December 31. The bonds

Hooker Company sells $200,000 of ten-year, 8% bonds to yield 10% on January 1, 2011. The bonds pay interest annually on December 31. The bonds were sold at a discount of $24,578. The bond carrying value at the end of 2012 is:

  1. $175,422
  2. $178,660
  3. $200,000
  4. $203,000

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