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On January 1, 2025, Swifty Corporation purchased 321 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1,
On January 1, 2025, Swifty Corporation purchased 321 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. Swifty purchased the bonds to yield 11%. How much did Swifty pay for the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
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