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29. A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2013....

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Accounting

29. A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2013. Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. Using straight-line amortization, what is the carrying value of the bonds on December 31, 2016?

a. $9,845,115

b. $9,870,311

c. $9,841,658

d. $9,831,761

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