Livingstone Technologies, Inc., purchased as a long-term investment $60 million of 6% bonds, dated January...
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Livingstone Technologies, Inc., purchased as a long-term investment $60 million of 6% bonds, dated January 1, on January 1, 2021. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $46 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2021, was $50million.
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