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At the beginning of his current tax year, David invests $ 1 2 , 0 0 0 in original issue U . S . Treasury

At the beginning of his current tax year, David invests $12,000 in original issue U.S. Treasury bonds with a $10,000 face
value that mature in exactly 10 years. David receives $700 in interest ( $350 every six months) from the Treasury bonds
during the current year, and the yield to maturity on the bonds is 5 percent.
Note: Round your intermediate calculations to the nearest whole dollar amount.
a. How much interest income will he report this year if he elects to amortize the bond premium?
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