22 25 points 01:38:45 Nichols Enterprises has an investment in 31,500 bonds of Elliott Electronics that Nichols accounts for as a security available-for- sale. Elliott bonds are publicly traded, and The Wall Street Journal quotes a price for those bonds of $13 per bond, but Nichols believes the market has not appreciated the full value of the Elliott bonds and that a more accurate price is $19 per bond. Nichols should carry the Elliott investment on its balance sheet at: Multiple Choice Either $409,500 or $598,500, as either are defensible valuations. $598,500. $409,500. $504,000, the midpoint of Nichols's range of reasonably likely valuations of Elliott