On January 1, 2017, Tonika Corporation issued a five-year, $10,000, 10% bond. The interest is payable annually each December 31. The issue price was…

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On January 1, 2017, Tonika Corporation issued a five­-year, $10,000, 10% bond. The interest is payable annually each December 31. The issue price was $9,631 based on an 11% effective interest rate. Assuming effective-­interest amortization is used, the December 31, 2018 book value after the December 31, 2018 interest payment was made is closest to:

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