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On January 1 , 2 0 1 0 , Errinwright Corporation issued $ 6 , 0 0 0 , 0 0 0 of its 6

On January 1,2010, Errinwright Corporation issued $6,000,000 of its 6%,10-year bonds. The market rate for investments of similar risk is 5%. Interest is paid semiannually on June 30 and December 31. On January 1,2016, Errinwright purchased the bonds on the open market at a price of 105.
What is the carrying value of the portion of bonds that are being retired early at the time of repurchase?
Hint: The answer is $6,215,104. How did they find this?

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