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On January 1, 2019, Tonika Company issued a four-year, $10,000, 10% bond. The interest is payable annually each December 31. The issue price was $9,689

On January 1, 2019, Tonika Company issued a four-year, $10,000, 10% bond. The interest is payable annually each December 31. The issue price was $9,689 based on an 11% effective interest rate. Tonika uses the effective-interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to:

a.$9,682.

b.$9,775.

c.$9.828.

d.$9.689.

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