A corporate bond, Aaa credit, with a par value of $1000 is quoted at 94 3/8. What is the cost of the bond?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 9EB: Roo Incorporated issued 50 bonds with a face value of $1,000 and a stated rate of 6% when the market...
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A corporate bond, Aaa credit, with a par value of $1000 is quoted at 94 3/8. What is the cost of the bond? 

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