Tanner-UNF Corporation acquired as a long-term investment $270 million of 8% bonds, dated July 1,…


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Tanner-UNF Corporation acquired as a long-term investment $270 million of 8% bonds, dated July 1,… 1 answer below ยป Tanner-UNF Corporation acquired as a long-term investment $270 million of 8% bonds, dated July 1, on July 1, 2013. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $240 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2013 was $250 million. Aug 01 2015 09:54 AM

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