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What would be the amortized cost of the bonds on January

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Question - On January 1, 2021, $1,000,000, 5-year, 5% bonds, were issued for $957,349. The interest rate in effect when the bonds were issued was 6%. Interest is paid semi-annually on January 1 and July 1. What would be the amortized cost of the bonds on January 1, 2022?

a) $957,345

b) $961,069

c) $964,901

d) $1,000,000

Reference no: EM132574053

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