Sandridge Company issued five-year 8% bonds with a face value of $50,000, for $53,512 on January 1, Yr1 when the market (effective) rate of interest was 7%. The bonds pay annual interest each December 31. Sandridge uses the effective interest method for amortization of premium on bonds payable. (Round your answers to the nearest dollar and show your work!!!).

What will be the carrying value of the bond on January 1, Yr2 (so one interest payment has been made)? Round to the nearest dollar in your answer and show your work!!!!