On January 1, 2025, Flounder Corporation sold a building that cost $274,530 and that had accumulated depreciation of $105,600 on the date of sale. Flounder received as consideration a $264,530 non-interest-bearing note due on January 1, 2028. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2025, was 9%. At what amount should the gain from the sale of the building be reported? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, eg. 458,581) The amount of gain should be reported $ (b) eTextbook and Media 35335 Attempts: 2 of 3 used Your answer is incorrect. On January 1, 2025, Flounder Corporation purchased 349 of the $1,000 face value, 9 %, 10-year bonds of Walters Inc. The bonds mature on January 1, 2035, and pay interest annually beginning January 1, 2026. Flounder purchased the bonds to yield 11%. How much did Flounder pay for the bonds? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 458,581) Flounder must pay for the bonds eTextbook and Media Save for Later Last saved 7 hours ago. Attempts: 1 of 3 used Submit Answer