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The Cinci Company issues $100,000, 10% bonds at 103 on October 1, 2020. The bonds are dated January 1, 2020 and mature eight years from

The Cinci Company issues $100,000, 10% bonds at 103 on October 1, 2020. The bonds are dated January 1, 2020 and mature eight years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2024.

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