Next > Question 1 0/1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2021. Buffalo Ltd. issued bonds with a maturity value of $5.40 million for $5.175.360, when the market rate of interest was 7%. The bonds have a contractual interest rate of 6% and mature on January 1, 2026. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. On January 1, 2021. Sunland Company, a public company purchased Buttale Ltd. bonds with a maturity value of $1.00 million to earn interest. On December 31, 2021. the bonds were trading at 97. Both companies' year end is December 31 Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided) (a) O Google L. POD application to S full book BUSA. Google Drive Makkor felis (a) X Your answer is incorrect What amount did Sunland Company pay for Buffalo Ltd's bonds? (Round answer to decimal places, es 5.275) Sunland Company paid $ 1035092 e Textbook and Media Assistance e Textbook 1 e Textbook 2 Save for Later Attempts: 1 of 3 used