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WP FMGT 2100 - Chapter 16 Homew X NWP Assessment Player UI Appli X A Player X BCm Homepage - British Columbia Ins x + X C @ https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=8efcc684-6c61-4328-b51c-8a0060agef30#/question/0 Not syncing FMGT 2100 - Chapter 16 Homework Question 1 of 4 0.25 / 1 View Policies Show Attempt History Current Attempt in Progress On January 1, 2021, Waterway Ltd. issued bonds with a maturity value of $5.65 million for $5,420,610, when the market rate of interest was 8%. The bonds have a contractual interest rate of 7% and mature on January 1, 2026. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. On January 1, 2021, Crane Company, a public company, purchased Waterway Ltd. bonds with a maturity value of $1.13 million to earn interest. On December 31, 2021, the bonds were trading at 99. 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 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) Your answer is correct. What amount did Crane Company pay for Waterway Ltd's bonds? (Round answer to O decimal places, e.g. 5,275.) Crane Company paid $ 1084122 e Textbook and Media Attempts: 1 of 3 used (b) Your answer is correct. Prepare the journal entry for Crane Company (investor) on January 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275.) O I ENG 1:29 9/7/2021WP FMGT 2100 - Chapter 16 Homew X NWP Assessment Player UI Appli X A Player X BCm Homepage - British Columbia Ins x + X C @https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=8efcc684-6c61-4328-b51c-8a0060agef30#/question/0 Not syncing FMGT 2100 - Chapter 16 Homework Question 1 of 4