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On January 1, 2018, MNO Corp. invests in a 5%, 5-year, $100,000 bond with interest paid annually on December 31 of each year. On the date of purchase, MNO pays $95,788 for the bond, yielding an effective market rate of 6%. On December 31, 2018, the bond investment has a FMV of 95,000. On December 31, 2020, the bond investment has a fair market value of 95,500.
Question 1: What is the unrealized gain or (loss) on the bond investment for the year 2020, assuming the bond is accounted for as a trading security?
5,792
(4,500)
5,500
(292)
None of the other answer choices is correct.
(1,827)
(1,535)
500
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