On February 1, 2024, Sanyal Motor Products issued 12% bonds, dated February 1, with a face amount of $60 million. The bonds mature on January 31, 2028 (four years). The market yield for bonds of similar risk and maturity was 14%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $60,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31