On January 1, 2021, Kennel Ltd. purchased $218,000 of 11%, 10-year bonds at face value (100) with the intention of selling the bonds early the next year. Interest is received semi-annually on July 1 and January 1. At December 31, 2021, which is the companys fiscal year end, the bonds were trading in the market at 96 (this means 96% of maturity value).