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Question 1 CW Inc. issues $575,000 of 6%, 8-year bonds for cash proceeds of $653,072. The market interest rate is 4%. Interest is paid semi-annually.

Question 1

CW Inc. issues $575,000 of 6%, 8-year bonds for cash proceeds of $653,072. The market interest rate is 4%. Interest is paid semi-annually.

To the nearest dollar, what is the carrying amount of the bonds after the first interest payment?

Select one:

a. $575,000

b. $657,260

c. $648,883

d. $640,010

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