On April 1, 2018, Quirk issued $2,000,000, 9% bonds for $2,134,202, when the market yield is 8% interest is payable annually on January 1 , and the bonds mature on January 1, 2028. The bonds are convertible. Each $1,000 bond is convertible into 30 shares of common stock. 41/2018 1,2028. T Bond principle Bond price Stated interest rate Market yield Term in years Months before bonds were sold Must use-PV function 4/1/2018 Cash Interest payable Premium on bonds payable Bonds payable