he city of Tampa began the year with a portfolio of bonds that has a historical cost of $600 and a fair value of $620. During the year, the city of Tampa acquired additional bonds at a cost of $130 and sold for $100 a security that had an historical cost of $86 and a fair value at the beginning of the year of $95. At the end of the year the securities portfolio had a fair value of $665. The amount that should be recognized on the financial statements for the year as investment income is

Select one:

a. Gain $10.

b. Gain $5.

c. The answer is not one of the choices presented

d. Gain $15.

e. Gain $14.

Clear my choice