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At the beginning of his current tax year, David invests $12,680 in original issue U.S. Treasury bonds with a $10,000 face value that mature in

At the beginning of his current tax year, David invests $12,680 in original issue U.S. Treasury bonds with a $10,000 face value that mature in exactly 20 years. David receives $660 in interest ($330 every six months) from the Treasury bonds during the current year, and the yield to maturity on the bonds is 4.6 percent. (Round your intermediate calculations to the nearest whole dollar amount.)

Semiannual Period

Adjusted Basis of Bonds at Beginning of Semiannual Period

Interest Received

Premium Amortization

Reported Interest

1

12680

330

2

330

Yearly Total

660

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