On January 1, 2024, Solo Incorporated issued 1,700 of its 10%, $1,000 bonds at 97.9. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2034. Solo paid $54,000 in bond issue costs. Solo uses straight-line amortization.

What is the carrying value of the bonds reported in the December 31, 2024, balance sheet?

Multiple Choice

$2,944,000

$1,619,270

$2,890,000

$1,687,870