Interest for bond (held-to-maturity) investments On February 1, Hansen Company purchased $78,000 of 6%,12-year Knight Company bonds at their face amount plus 1 month's accrued interest. The bonds pay interest on January 1 and July 1 . On October 1 , Hansen Company sold $27,600 of the Knight Company bonds acquired on February 1 , plus 3 months' accrued interest. On December 31,3 month' ^(') interest was accrued for the remaining bonds. Determine the interest earned by Hansen Company on Knight Company bonds for the year