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On January 1, 2020, a company issued $400,000 of 10-year, 12% bonds. The interest is payable semiannually on June 30 and December 31. The issue

On January 1, 2020, a company issued $400,000 of 10-year, 12% bonds. The interest is payable semiannually on June 30 and December 31. The issue price was $413,153 based on a 10% market interest rate. The effective-interest method of amortization is used.

What is the book value of the bond liability as of June 30, 2020 (to the nearest dollar)?

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