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On 1/1/18, the Howson Company issued a $100,000, 8%, 5-year bond. Interest is paid each June 30 and December 31. The bond sold for $104,158

On 1/1/18, the Howson Company issued a $100,000, 8%, 5-year bond. Interest is paid each June 30 and December 31. The bond sold for $104,158 to yield 7%. The effective interest method is used.

The Bond Carrying Value at 12/31/18 is:

Select one:

a.$103,437

b.$104,879

c.$103,717

d.$103,449

e.$102,690

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