On January 1, a company purchased a marketable debt security and classified it as held-to-maturity. The investment is a $50,000 face value, 8% five-year bond issued for $46,139 to yield 10%. Interest is payable on June 30 and December 31. Required:
What is the carrying amount of the investment on December 31 of the current year?

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.