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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?