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On January 1, 2016, Solo Inc. issued 461,000 of its 5% bonds at 103. Interest is payable semiannually on July 1 and December 31 .

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On January 1, 2016, Solo Inc. issued 461,000 of its 5% bonds at 103. Interest is payable semiannually on July 1 and December 31 . The bonds mature in ten years. Solo uses straight-line amortization. The carrying value of the bond on December 31, 2016 would be

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