On January 1, 2024, Bonita Ltd. issued bonds with a maturity value of $4.50 million for $4,308,070, when the market rate of intere was 6%. The bonds have a contractual interest rate of 5% and mature on January 1, 2029. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. On January 1, 2024, Blossom Company, a public company, purchased Bonita Ltd. bone with a maturity value of $0.90 million to earn interest. On December 31, 2024, the bonds were trading at 97. Both companies' year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1