Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.

Payment	Cash			Effective Interest			Decrease in Balance			Outstanding Balance
											11,487,747
1		400,000			344,632			55,368			11,432,379
2		400,000			342,971			57,029			11,375,350
3		400,000			341,261			58,739			11,316,611
4		400,000

What is the book value of the bonds as of December 31, 2022?

Multiple Choice

• $11,432,379.

• $11,375,350.

• $11,316,611.

• $11,256,109.