Quanta Services is a leading British financial service company with the headquarter in Glasgow. On 1 January 2010, Quanta Services Inc. issues 1,000,000 face value, five-year bonds with annual interest payments of 55,000 to be paid each 31 December. The market interest rate is 6.0 percent. Using the effective interest rate method of amortization, the carrying amount of the liability at the beginning of the period is closest to Select one: a. 1,000,000 b. 978,938 c. 1,021,061 On 1 January 2010, Quanta Services Inc. issues 1,000,000 face value, five-year bonds with annual interest payments of 55,000 to be paid each 31 December. The market interest rate is 6.0 percent. Using the effective interest rate method of amortization, the Interest expense in 2010 is closest to Select one: a. 58,736 b. 55,000 c. 60,000 On 1 January 2010, Quanta Services inc. issues 1,000,000 face value, five-year bonds with annual interest payments of 55,000 to be paid each 31 December. The market interest rate is 6.0 percent. Using the effective interest rate method of amortization, the value of the liability on 31 December 2010 will be closest to Select one: a. 978,938 b. 1,000,000 c. 800,000 d. 982,674