Question: 1 0 % bonds, dated February 1 , with a face amount of $ 6 0 million.The bonds mature on January 3 1 , 2

10% bonds, dated February 1, with a face amount of $60 million.The bonds mature on January 31,2028(four years).The market yield for bonds of similar risk and maturity was 12%.Interest is paid semiannually on July 31 and January 31.Barnwell Industries acquired $60,000 of the bonds as a long-term investment.The fiscal years of both firms end December 31.

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