Use the following information for the Quick Study below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On December $31,$ Reggit Company held the following short$-$term investments in its portfolio of available$-$for$-$sale debt securities$.$ Reggit had no short$-$term investments in its prior accounting periods.

$\backslash$table$[[$Available$-$for$-$Sale Securities,Cost,Fair Value$],[$Verrizano Corporation bonds,$$72,000,$$$70,560$