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Find what the interest income for the year is

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On June 1, 2016, ABC Corporation purchased as a long-term investment 4, 000 of the P1, 000 face value, 8% bonds of DEF Corporation for P3, 645,328. Interest is payable semiannually on December 1 and June 1. The bonds mature on June 1, 2022. On November 1, 2017, ABC sold the bonds for a total consideration of P3, 925,000. ABC intended to hold these bonds until they matured.

Question 1: The interest income for the year 2017 is

Option 1: 306, 608

Option 2: 311, 218

Option 3: P304, 748

Option 4: P310, 715

Reference no: EM132586680

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