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Crane Company received proceeds of $799500 on 10-year, 9% bonds issued on January 1, 2019. The...

Crane Company received proceeds of $799500 on 10-year, 9% bonds issued on January 1, 2019. The bonds had a face value of $848000, pay interest annually on December 31, and have a call price of 103. Crane uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2021?

$809200

$848000

$838300

$804350
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