3 - Chapter 12 Part A Chapter 12 Part A Graded Homework (i) 3 Mills Corporation acquired as a long-term investment $270 million of 8% bonds, dated July 1 , on July 1, 2024. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yleid) was 6% for bonds of 5 injlan risk and maturity. Mills paid $310.0 million for the bonds. The company will receive interest semiannualy on June 30 and December 31 . As a 2 result of changing market conditions, the fair value of the bonds at December 31,2024 , was