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On January 1, 2017, Teal Corporation purchased 339 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1,

On January 1, 2017, Teal Corporation purchased 339 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. Teal purchased the bonds to yield 11%. How much did Teal pay for the bonds?

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