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On January 1, 2017, Fishbone corporation purchased 300 of the $1000 face value, 9%, 10 year bonds of Walters INc. The bonds mature on Jan 1,2027, and...
On January 1, 2017, Fishbone corporation purchased 300 of the $1000 face value, 9%, 10 year bonds of Walters INc. The bonds mature on Jan 1,2027, and pay interest annually, beginning January 1, 2018. Fishbone purchased the bonds to yield 11% . How much did Fishbone pay for the bonds? Please include step-by-step answers. Please specify how you figured the interest payment , and please write neatly.