On January 1, 2011, Bradley Recreational Products issued $100,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $96,768 to yield an annual return of 10%.
Required: Assuming the market is still 10% what price would a second investor pay the first investor on JUne 30 2013 for 10000 of the bonds?