(Answered) Question - on january 1 2010 jacob issues 660000 of 12

Accounting

Question - On January 1, 2010, Jacob issues $660,000 of 12%, 14-year bonds at a price of 103.50. All interest is accounted for and paid through December 31, 2015, the day before the purchase. The straight-line method is used to amortize any bond discount. What is the carrying value of the bond on January 1, 2016?

$564,300

$578,136

$645,524

$673,200

$660,000

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