On $1$ January $2024,$ Maple Ltd$.$ purchased $$1,000,000$ of Pine Ltd$.5\%$ bonds. The bonds pay semi$-$annual interest each $30$ June and $31$ December. The market interest rate was $6\%$ on the date of purchase. The bonds mature on $31$ December $2029.$

Required:

a$)$ Calculate the price paid by Maple Ltd$.$ for the bonds.

b$)$ Assume that the bond is classified as a FVTPL investment, and the fair value at the end of $2024$ was $$1,010,000.$ Prepare the entries for each interest period in $2024,$ and adjust the bond to fair value at the end of each fiscal year.

c$)$ Explain how the information in the b$)$ would have been handled, if the investment was classified as AC $($Amortized Cost$),$ No calculations required.

Note: PV tables provided in the course.