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On December 31,2020 , Alberta Inc. purchased $500,000,10% bonds issued by Banff Ltd. The bonds have a maturity date of December 31, 2026. The market
On December 31,2020 , Alberta Inc. purchased $500,000,10% bonds issued by Banff Ltd. The bonds have a maturity date of December 31, 2026. The market interest rate on December 31, 2020 was 9.5%. If Alberta Inc. accounts for this investment under the amortized cost model, what is the amount at which the Investment in Banff Ltd. Bonds will be reported on the statement of financial position at December 31,2021 , given that the current market interest rate is 9% ? $490,523 $509,599 $519,448 $511,050
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