b. How much interest will he report this year if he does not elect to amortize the bond premium?

Required information The following information applies to the questions displayed below At the beginning of his current tax year, David invests $12,160 in original issue U.S. Treasury bonds with a $10,000 face value that mature in exactly 20 years. David receives $1,000 in interest ($500 every six months) from the Treasury bonds during the current year, and the yield to maturity on the bonds is 8 percent. (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? Adjusted Basis Semiannual of Bond at Interest Premium Reported PeriodBeginning of Received Amortization Interest Semiannual Period Yearly Total 0 S