On January 2, 2016, Lawn Master Construction, Inc issued $500,000, 10-year bonds for $574,540 . The bonds pay interest on June 30 and December 31 . The face rate is 8% and the market rate is 6%. What is the carrying value of the bonds at the end of ten years before the final maturity payment is made?
a. $574,540
b. $525,000
c. $500,000
d. $425,460
c
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