Wyatt, Inc. purchased a $75,000 bond, at par, from Arrow, Inc. on November 30, 2019. The bonds stated interest rate is 6% with interest paid semiannually (June 30 and December 31). The bonds maturity date is December 31, 2023.

Wyatt anticipated a decrease in interest rates over the next year and intended to sell the bond at that time. As of December 31, 2019, however, the fair value of the bond was $74,500. Wyatt classifies the bond as a trading security.

How much did Wyatt pay for the bond on November 30, 2019?

Group of answer choices

$75,375

$75,000

$77,250

$56,875

$76,875