Question
On January 1, 2014, Fishbone Corporation purchased330of the $1,000face value,9%,10-year bonds of Walters Inc. The bonds mature on January 1, 2024, and pay interest annually
On January 1, 2014, Fishbone Corporation purchased330of the $1,000face value,9%,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 yield10%. How much did Fishbone pay for the bonds?(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
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Cornerstones of Financial Accounting
Authors: Jay Rich, Jeff Jones
4th edition
978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898
