As the PM, you are meeting with your experts to discuss costs for activities included in the work outlined in the WBS. Then, you will sum the costs of these activities for every project element and, ultimately, utilize for developing a budget. You are using estimating..

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?