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Neufeld Company issued $800,000 of 6%, 5-year bonds at 98, which pays interest annually. Assuming straight-line amortization what is the carrying value of the bonds

Neufeld Company issued $800,000 of 6%, 5-year bonds at 98, which pays interest annually. Assuming straight-line amortization what is the carrying value of the bonds after one year?

a) 784,000

b) 785,600

c) 787,200

d) 790,400

Please add an explanation. Thanks!

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