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Pelican Company issued $200,000 of 20-year, 6 percent bonds at 98 on one of its semiannual interest dates. The straight-line method of amortization is to

Pelican Company issued $200,000 of 20-year, 6 percent bonds at 98 on one of its semiannual interest dates. The straight-line method of amortization is to be used. After seven years, what is the carrying value of the bonds?

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