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On January 1 , Year 1 , Booker Corporation issued a $ 5 , 0 0 0 face value bond that sold for 9 0

On January 1, Year 1, Booker Corporation issued a $5,000 face value bond that sold for 90. The bond had a five-year term and paid 10% annual interest. The company used the proceeds from the bond issue to buy land. The land was leased for $600 of cash revenue per year and was sold at the end of the 5th year for $4,200 cash. The total (net) amount of liability associated with the bond issue would

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