Question: On April 1 , 2 0 2 4 Eagle Corp. purchased $ 6 0 , 0 0 0 of Bobcat Inc's 8 % bonds at

On April 1,2024 Eagle Corp. purchased $60,000 of Bobcat Inc's 8% bonds at a purchase price of 105. At the time of purchase the market rate of interest was 6%. Eagle Corp. whose year end is December 31, expects to hold the bonds until their maturity date 5 years from the date of purchase. Interest on the bonds will be paid every April 1 and October 1 until maturity. What is the carrying value (amortized cost) of the bond that Eagle Corp. would report on October 1,2024?
 On April 1,2024 Eagle Corp. purchased $60,000 of Bobcat Inc's 8%

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