On January 1, 2023, an 8% $100,000 bond that matures in 5 years and pays...
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Accounting
On January 1, 2023, an 8% $100,000 bond that matures in 5 years and pays interest semi-annually on January 1 and July 1 is purchased for $92,278 to yield 10%. It is classified as held-to-maturity. What is the approximate carrying value of the bond on January 1, 2024?
Select one:
a. $89,661
b. $90,969
c. $94,857
d. $93,536
e. $92,892
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