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What is the carrying value of the bonds

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Question - Ajax Ltd. issued $4 million in 4% bonds. The bonds have a 7-year term, 5% annual market interest rate, and pay interest semiannually. When making the ninth semiannual payment of $80,000, Ajax recorded $97,245.94, interest and $17,245.94 discount amortization, after which the carrying amount increased to $3,907,083.43. What is the carrying value of the bonds after the tenth semiannual payment?

Reference no: EM132827781

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