Nicholas Smith Fitness Gym has $700,000 of 20-year bonds payable outstanding. These bonds had a discount of $56,000 at issuance, which was 10 years ago. The company uses the straight-line amortization method. The carrying amount of these bonds payable is

a. $672,000.

b. $644,000.

c. $700,000.

d. $728,000.

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