A company issues 20000000 78 20-year bonds to yield 8on

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A company issues $20,000,000, 7.8%, 20-year bonds to yield 8%on January 1, 2007. Interest is paid on June 30 and December31. The proceeds from the bonds are $19,604,145. Usingeffective-interest amortization, what will the carrying value ofthe bonds be on the December 31, 2007 balance sheet?

Reference no: EM13614469

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