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. Problem 7-35 Part-a (Static) a. How much interest income will he report this year if he elects to amortize the bond premium? 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. Problem 7-35 Part-b (Static) b. How much interest will he report this year if he does not elect to amortize the bond premium