ABC Corp issued a $100,000, 5-year bond at a 10% interest rate. Interest is payable annually, and
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ABC Corp issued a $100,000, 5-year bond at a 10% interest rate. Interest is payable annually, and the bond is sold at a premium of $2,000. What is the bond's carrying value at the end of year 3, and what is the interest expense for that year?
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