[The following information applies to the questions displayed below.]On January 1, Year 1, Victor Company issued bonds with a $250,000 face value, a stated rate of interest of 6%, and a 5-year term to maturity. The bonds sold at 95. Interest is payable in cash on December 31 of each year. Victor uses the straight-line method to amortize bond discounts and premiums.What is the carrying value of the bond liability at December 31, Year 3?
A. $237,500
B. $241,000
C. $242,500
D. $245,000
Answer: D
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Big Corporation is served with a subpoena to turn over business records to an administrative agency. What are three possible legal grounds the company can raise to avoid producing the requested records?