On January 1. 2021, Novak Ltd. paid $316.289.83 for 12% bonds of Variaticn Ltd with a maturity value of $294,000. The bonds provide the bondholders with a 100 yleld. They are dated January 1, 2021, mature on January 1, 2026, and pay interest each December 31. Novak acquired the bond investment as part of its portfolio of trading securities and it accounts for the bonds at FV-NI, following IFR5. At December 31, 2021, Novak's year end, the bonds had a fair value of \$314,300.00. During 2022, the economic cutlook related to Variation's primary business took a major downturn, so that Variation's debt was downgraded. By the end of 2022, the bonds were priced at 85.5 , and at December 31.2023, they were selling in the market at 87. Conditions reversed in 2024 and the outlook for Variation significantly improved, leaving its bonds with a fair value of 99.5 at December 31,2024 On January 1. 2021, Novak Ltd. paid $316.289.83 for 12% bonds of Variaticn Ltd with a maturity value of $294,000. The bonds provide the bondholders with a 100 yleld. They are dated January 1, 2021, mature on January 1, 2026, and pay interest each December 31. Novak acquired the bond investment as part of its portfolio of trading securities and it accounts for the bonds at FV-NI, following IFR5. At December 31, 2021, Novak's year end, the bonds had a fair value of \$314,300.00. During 2022, the economic cutlook related to Variation's primary business took a major downturn, so that Variation's debt was downgraded. By the end of 2022, the bonds were priced at 85.5 , and at December 31.2023, they were selling in the market at 87. Conditions reversed in 2024 and the outlook for Variation significantly improved, leaving its bonds with a fair value of 99.5 at December 31,2024