Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2011. They have a ten-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.
Pmt Cash Eff.Int Decr.Bal Out.Bal
11,487,747
1 400k 344,632 55,368 11,432,379
2 400k 342,971 57,029 11,375,350
3 400k 341,261 58,739 11,316,611
4 400k
What is the carrying value of the bonds as of December 31, 2012?