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On January 1, a company issued $1,265,924 of 15 year bonds with a coupon rate of 8%, payable semi-annually on June 30 and December 31

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On January 1, a company issued $1,265,924 of 15 year bonds with a coupon rate of 8%, payable semi-annually on June 30 and December 31 . The market rate of interest on the issuance date was 5%. What was the carrying value of the bonds at the end of the second year? Provide your answer to the nearest whole dollar (no decimals)

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