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On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,611

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On January 1, 2019, Tonika Company issued a five-year, $10,000, 8% bond. The interest is payable annually each December 31. The issue price was $9,611 based on an 9% effective interest rate. Tonika uses the effective-interest amortization method. The book value of the bonds as of December 31, 2019 is closest to: Multiple Choice $9,676. $8,811. $65. $9,546

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