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On January 1, 2025, a 10% $100,000 bond that matures in 5 years and pays interest semi-annually on January 1 and July 1 is purchased
On January 1, 2025, a 10% $100,000 bond that matures in 5 years and pays interest semi-annually on January 1 and July 1 is purchased for $92,640 to yield 12%. It is classified as held-to-maturity. What is the approximate carrying value of the bond on January 1, 2026? Select one: a. $93,757 b. $93,198 c. $93,790 d. $89,836 e. $89,904
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