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On January Year 1 Residence Company Issued bonds with a $ 5 9 , 0 0 0 face valueThe bonds were issued at 9 6

On January Year

1

Residence Company Issued bonds with a $

59, 000

face valueThe bonds were issued at

96

resulting in a

4 %

discountThey had a

20 -

year term and a stated rate of interest of

7

Based on this informationthe carrying value of the bond liability January Year

1

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