On January 1, a company issued and sold a $400, 000, 7%, 10-year bond payable, and received proceeds of $396, 000 Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the first interest payment is: Multiple Choice $400, 000 $399, 800. $400, 200