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On January 1,2024 , Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31
On January 1,2024 , Splash City issues
$500,000
of
9%
bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is
10%
and the bonds issued at
$457,102
.\ Required:\ Using an amortization schedule, show that the bonds have a carrying value of
$458,633
on December 31,2025 . (Round your final answers to nearest whole dollar.)
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