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On January 2, 2019, Concord Corporation issued $ 2,150,000 of 10% bonds to yield 11% due December 31, 2028. Interest on the bonds is payable
On January 2, 2019, Concord Corporation issued $ 2,150,000 of 10% bonds to yield 11% due December 31, 2028. Interest on the bonds is payable annually each December 31. The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2022, Concord called $ 1,290,000 face amount of the bonds and retired them. Determine the price of the Concord bonds when issued on January 2, 2019.
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