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36. LO.2 Marlene, a cash basis taxpayer, invests in Series EE U.S. government savings bonds and bank certificates of deposit (CDs). Determine the tax consequences

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36. LO.2 Marlene, a cash basis taxpayer, invests in Series EE U.S. government savings bonds and bank certificates of deposit (CDs). Determine the tax consequences of the following on her 2021 gross income: a. On September 30, 2021, she cashed in Series EE bonds for $10,000. She purchased the bonds in 2011 for $7,090. The yield to maturity on the bonds was 3.5%. b. On July 1, 2020, she purchased a 24-month CD for $10,000. The CD matures on June 30, 2022, and will pay $10,816, yielding a 4% annual return. c. On July 1, 2021, she purchased a 12-month CD for $10,000. The maturity date on the CD was June 30, 2022, when Marlene will receive $10,300

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