On January $1,2023,$ Martinez Corporation purchased a $$1,210,000$ bond issued by ALN Ltd$.$ The bond was due to mature on December $31,2025,$ and paid interest at $6\%$ every June $30$ and December $31.$ The market interest rate was $8\%.$ Martinez had both the intention and ability to hold the bond until its maturity date.

On January $1,2025,$ Martinez became aware that ALN was experiencing severe financial difficulties. After discussing the situation with ALN and some of the other creditors, Martinez believed that AL

N would now be able to repay only $$1,089,000$ of the original $$1,210,000$ bond. $($The tables in this problem are to be used as a reference for this problem.$)$

$($a$)$

Your answer has been saved. See score details after the due date.

Calculate the purchase price of the bond using A$-2$ and A$-4$ Tables, a financial calculator or Excel functions. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}36.)$

Purchase price $entre the purchase price in dollars rounded to $2$ decimal places

eTextbook and Media

Attempts: $1$ of $1$ used

$($b$)$

Your answer has been saved. See score details after the due date.

Calculate the carrying amount of the bond on January $1,2025$ by preparing a bond amortizable table. $($Round answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}36.)$

Carrying amount $entre the carrying amount in dollars rounded to $2$ decimal places

eTextbook and Media

Attempts: $1$ of $1$ used

$($c$)$

Calculate the revised present value of the bond at January $1,2025$ using A$-2$ and A$-4$ Tables, a financial calculator or Excel functions. $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}36.)$

Revised present value $enter the revised present value in dollars rounded to $2$ decimal places

eTextbook and Media

Save for Later

Attempts: $0$ of $1$ usedSubmit Answer

$($d$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.