On January 1, Cullumber Inc. issued $4200000, 9% bonds for $3943800. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Cullumber uses the effective-interest method of amortizing bond discount. At the end of the first year, Cullumber should report unamortized bond discount of O $214256. O $230556. O $239820. O $216506.

On lanuary 1 Cullumber inc issued $4200000,98 bonds for $3943800. The market rate of interest for these bends is 10%. Interest is payable annualiy y December 31 . Cullumber uses the effective interest method of amortizing bond discount. At the end of the first year, Cullumber should report unamortized bond discount of $214256 $230556 $239820 $216506