Question: Question 1 Using the information given below, calculate the value of financial asset as on 30.06.2019. A commercial company purchased a five-year bond on

Question 1 Using the information given below, calculate the value of financial

Question 1 Using the information given below, calculate the value of financial asset as on 30.06.2019. A commercial company purchased a five-year bond on 1 July 2019 at a cost of OMR 27,000,000. The rate of annual interest on the investment was 10%. Which is also the effective rate payable on 30 June every year. At the reporting date of 30.06.2020, interest has been received as expected and the market rate of interest increased to 12% now. Required: a. Calculate the value of asset on 30.06.2020 on FVTPL basis (10 marks)

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