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On January 1, 2020, Teal Corporation purchased 321 of the $1,000 face value, 12%, 10-year bonds of Walters Inc. The bonds mature on January 1,
On January 1, 2020, Teal Corporation purchased 321 of the $1,000 face value, 12%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2030, and pay interest annually beginning January 1, 2021. Teal purchased the bonds to yield 11%. How much did Teal 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.)
Teal must pay for the bonds $enter a dollar amount should be paid for the bonds
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