On January 1, the Caycee Corporation issued $4,000,000, 9% bonds for $3,756,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Caycee uses the effective-interest method of amortizing bond discount. At the end of the first year, what amount should Caycee report for the unamortized bond discount?

$204,000

$228,400

$219,600

$206,440

Answer rating: 100% (QA)

To calculate the unamortized bond discount at the end of the first year for Caycee Corporationwe nee... View the full answer