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Mega Industries has outstanding $5,000,000 of 10% bonds that it issued years ago at 96. The unamortized bond discount at the end of Year 15
Mega Industries has outstanding $5,000,000 of 10% bonds that it issued years ago at 96. The unamortized bond discount at the end of Year 15 is $50,000. At that time, the market rate of interest is 8%, and White Industries' bonds are selling on the open market at 103. What is the carrying amount that White should show on its balance sheet at December 31, Year 15?
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