I need a step by step way to solve this, not just an answer
please. THX
On Jan 1, 2017 Sharpsburg, Inc. issued $400,000, ten-year, 10%
bonds for $354,200. The bonds pay interest on June 30 and December
31. The market rate is 12%. What is the carrying value of the bonds
at the end of the ten years. According to the book the answer
should be $400k, NOT $355,452 like another Clegg member
answered.