On January 1, 2025, Sheffield Company purchased 10% bonds having a maturity value of $380,000 for $410,343.38. The bonds. provide the bondholders with a 8% yield. They are dated January 1, 2025, and mature January 1, 2030, with interest received on January 1 of each year. Sheffield Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.