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On November 1, 2015, Davis Company issued $30,000, six-year, 7% bonds for $29,340. The bonds were dated November 1, 2015, and interest is payable each

On November 1, 2015, Davis Company issued $30,000, six-year, 7% bonds for $29,340. The bonds were dated November 1, 2015, and interest is payable each on May 1 and November 1. Davis uses the straight-line method of amortization. How much is the book value of the bonds after the November 1, 2016 interest payment was recorded using the straight-line method of amortization?

$29,230.

$29,560.

$29,340.

$29,450.

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