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At the beginning of his current tax year, David invests $11,540 in original issue U.S. Treasury bonds with a $10,000 face value that mature in

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At the beginning of his current tax year, David invests $11,540 in original issue U.S. Treasury bonds with a $10,000 face value that mature in exactly 10 years. David recelves $840 in interest ( $420 every six months) from the Treasury bonds during the current year, and the yieid to maturity on the bonds is 6.4 percent Note: Round your intermediate calculations to the nearest whole dollar amount. Problem 7-35 Part-a (Algo) a. How much interest income will he report this year if he elects to amortize the bond premium

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