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What amount does the investor include in gross income

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Question - On November 1, 2014, a cash basis investor pays $10,208 for bonds. The bonds pay $250 interest on June 1 and December 1. Included in the purchase price is $208 of accrued interest. On December 1, 2014, the corporation pays the investor $250. What amount does the investor include in gross income in 2014?

Reference no: EM132023909

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