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On July 1, 2013, ahmad Inc. issued 8% bonds in the face amount of $5,000,000, which mature on July 1, 2019. The bonds were issued

On July 1, 2013, ahmad Inc. issued 8% bonds in the face amount of $5,000,000, which mature on July 1, 2019. The bonds were issued for $4,695,000 to yield 9%, resulting in a bond discount of $305,000. Jordan uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2015, the carrying value of the bonds should be

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