Answer:
c. $3449000.
Explanation:
The relevant long-term liabilities items are as follows:
5-year Bonds Payable 8% = $3,000,000
Premium on Bonds Payable = $98,000
Notes Payable (5 yr.) = $167,000
Mortgage Payable ($15000 due currently) = $199,000 - $15,000 = $184,000
Therefore, we have:
Total long-term liabilities = $3,000,000 + $98,000 + $167,000 + $184,000 = $3,449,000.
