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

Sagot :

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