Question
Your Company issued a $1,000,000 face value bond on January 1, 2018. The 20-year term bond was issued at 104 and had a 3.2% stated
Your Company issued a $1,000,000 face value bond on January 1, 2018. The 20-year term bond was issued at 104 and had a 3.2% stated rate of interest that is payable on December 31st of each year. What is the carrying value of the bond after the third interest payment is made?
Group of answer choices
A. $966,000
B. $1,000,000
C. $965,000
D. $1,034,000
E. $1,036,000
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
10th edition
1133940595, 978-1133940593
