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On January 1, 2014, Fishbone Corporation purchased 350 of the $1,000 face value, 8%, 10-year bonds of Walters Inc. The bonds mature on January 1,

On January 1, 2014, Fishbone Corporation purchased 350 of the $1,000 face value, 8%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2024, and pay interest annually beginning January 1, 2015. Fishbone purchased the bonds to yield 12%. How much did Fishbone pay for the bonds?

What is the amount Fishbone must pay for the bonds?

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