What is the carrying value of the bonds

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XYZ Corporation issued 10,000 P1,000 serial bonds with a stated rate f 8% per annum. The principal of the bond shall be paid equally within 5 years but the annual interest shall be paid yearly beginning at the end of the year. Similar bonds issued by government have an interest rate of 6% per annum. What is the carrying value of the bonds at the end of Year 1?

Reference no: EM132812050

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