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On January 1, 2020, Oliver Company issued $6 million of 8 year bonds at an 8% stated interest rate to be paid annually. Oliver Company

On January 1, 2020, Oliver Company issued $6 million of 8 year bonds at an 8% stated interest rate to be paid annually. Oliver Company issued the bonds at 106 since the market rate of interest was 7%. What amount would Oliver Company report as the carrying value of the bonds on the December 31, 2021 balance sheet? (round to the nearest dollar)

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