Question 1 View Policies Current Attempt in Progress On January 1, 2021, Sweet Acacia Ltd. issued bonds with a maturity value of $5.35 million for $5.132.790, when the market rate of interest was 8%. The bonds have a contractual interest rate of 7% and mature on January 1, 2026. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. On January 1 2021, Sheridan Company, a public company, purchased Sweet Acacia Ltd. bonds with a maturity value of $1.07 million to earn interest. On December 31, 2021, the bonds were trading at 99. Both companies' year end is December 31 Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount did Sheridan Company pay for Sweet Acacia Ltd's bonds? (Round answer to decimal places, eg. 5.275.) Sheridan Company paid $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit