Blue Corp.’s December 31, 2006 balance sheet contained the following items in the long-term liabilities section:
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9 3/4% registered debentures, callable in 2017, due in 2022 |
$700,000 |
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9 1/2% collateral trust bonds, convertible into common stock beginning in 2015, due in 2025 |
600,000 |
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10% subordinated debentures ($30,000 maturing annually beginning in 2012) |
300,000 |
What is the total amount of Blue’s term bonds?
- $ 600,000
- $ 700,000
- $1,000,000
- $1,300,000