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65. On January 1, 2023, Fen Li Company purchased bonds with face amount of Php 6,250,000 for P 5,950,000 including transaction cost of P 200,000.

65. On January 1, 2023, Fen Li Company purchased bonds with face amount of Php 6,250,000 for P 5,950,000 including transaction cost of P 200,000. The bonds mature on December 31, 2025 and pay 10% interest annually on December 31 with a 12% effective yield. The bonds are quoted at 102 on December 31, 2021 and 105 on December 31, 2024

How much is the interest income for the year 2023?

a. 625,000

b. 714,000

c. 610,000

d. 724, 680

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