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On January 1, 2016, a company issued $750,000 of 10-year, 10% bonds. The interest is payable semi-annually on June 30 and December 31. The market

On January 1, 2016, a company issued $750,000 of 10-year, 10% bonds. The interest is payable semi-annually on June 30 and December 31. The market interest rate is 6%. The effective-interest method of amortization is used. What is the book value of the bond liability as of June 30, 2016?

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