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On January 1, 2021, Electric Mayhem Limited issued $300,000, 10-year, 4% bonds. Cash interest is payable semi-annually on June 30 and December 31. Bond issuance

On January 1, 2021, Electric Mayhem Limited issued $300,000, 10-year, 4% bonds. Cash interest is payable semi-annually on June 30 and December 31. Bond issuance costs are 40,000. The market rate for bonds of similar risk and maturity is 696 at issue. What is the carrying value of the bond on January 1, 2021? Round to the nearest dollar

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