Question: A company issues $ 1 5 , 0 0 0 , 0 0 0 , 7 . 8 % , 2 0 - year bonds

A company issues $15,000,000,7.8%,20-year bonds to yield 8% on January 1,2020. Interest is paid on June 30 and December 31.
Using effective-interest amortization, what will the carrying value of the bonds be on the December 31,2020 balance sheet?

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