For the past three years, Bonafacio Holdings Ltd. has held bonds as investments, which it accounted for using the amortized cost model. The bonds were purchased at a discount and are currently classified as Bond Investment at Amortized Cost. There have been no disposals of bonds since the purchase in early 2018. Due in part to Bonafacio's liquidity needs, and the recent market rate of interest increases, Bonafacio has changed its plans concerning holding the bonds as fixed income. It now feels unwilling to wait for the bonds' maturity date to collect the proceeds from the maturity. Consequently, it was decided in December 2020 that the bonds should instead be accounted for as FV-NI Investments. Bonafacio follows IFRS. The carrying amount and fair value of the investment portfolio of bonds appears below, along with the interest income recorded in the accounts:

Carrying amount at amortized cost Fair value Interest income for the year Cash collected for interest during the year Year ended December 31, 2020 $230,466 228,400 13,491 10,000 2019 $226,975 22 6,000 1 3,2 92 10,000 2018 $223,683 225,300 13,104 10,000