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How much interest income will he report this year

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Question - At the beginning of his current tax year, David invests $12,840 in original issue U.S. Treasury bonds with a $10,000 face value that mature in exactly 20 years. David receives $580 in interest ($290 every six months) from the Treasury bonds during the current year, and the yield to maturity on the bonds is 3.8 percent. How much interest income will he report this year if he elects to amortize the bond premium?

Reference no: EM133175006

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