On January 1, 2018, Wolf Corporation acquired as long-term investment $800,000 of 6% bonds, dated January 1. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Wolf paid $691,280 for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $700,000. At what amount will Wolf report its investment in the December 31, 2018, balance sheet? $700,000 $698,728 $694,245 $691,280