Question $19$ of $23$

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On January $1,2023,$ Marigold Corporation purchased a newly issued $$1,200,000$ bond. The bond matured on December $31,2025,$ and paid interest at $6\%$ every June $30$ and December $31.$ The market interest rate was $8\%.$ Marigold's fiscal year$-$end is October $31,$ and the company had the intention and ability to hold the bond untilits maturity date. The bond will be accounted using the amortized cost model.

Click here to view Table A$\mathrm{.}2-$ PRESENT VALUE OF$1-($PRESENT VAL UE OF A SINGLE SUM$)$

Click here to view Table A$\mathrm{.}4-$ PRESENT VALUE OF AN ORDINARY ANNUITY OF $1$

$($a$)$

Calculate the price paid for the bond using a financial calculator or Excel functions. $($Round answers to $2$ decimal places, eg$.52\mathrm{.}75.)$

PV $ $$