Required information Exercise 10-9 Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4 [The following information applies to the questions displayed below On January 1, 2017, Shay issues $420,000 of 9%, 12-year bonds at a price of 9725. Six years later, on January 1, 2023. Shay retires 20% of these bonds by buying them on the open market at 104.50. All interest is accounted for and paid through December 31, 2022, the day before the purchase. The straight-line method is used to amortize any bond discount. Exercise 10-9 Part 1 1. How much does the company receive when it issues the bonds on January 1, 2017