on january 2, year 1, west co. issued 9% bonds in the amount of $500,000, which mature on january 2, year 11. the bonds were issued for $469,500 to yield 10%. interest is payable annually on december 31. west uses the interest method of amortizing bond discount and does not elect the fair value option for reporting financial liabilities. in its june 30, year 1, balance sheet, what amount should west report as the bond's carrying value?