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On January 1, 2017, Splish Corporation purchased 325 of the $ 1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January
On January 1, 2017, Splish Corporation purchased 325 of the $ 1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2027, and pay interest annually beginning January 1, 2018. Splish purchased the bonds to yield 11%.
1.How much did Splish pay for the bonds?
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