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On January 1, 2024, a 12% $100,000 bond that matures in 5 years and pays...

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Accounting

On January 1, 2024, a 12% $100,000 bond that matures in 5 years and pays interest semi-annually on January 1 and July 1 is purchased for $107,722 to yield 10%. It is classified as held-to-maturity. What is the approximate carrying value of the bond on January 1, 2025? Select one: a. $106,464 b. $107,108 c. $106,494 d. $110,648 e. $110,736

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