Interest for bond (held-to-maturity) investments On February 1, Hansen Company purchased $132,000 of 6%, 10-year Knight Company bonds at their face amount plus 1 months accrued interest. The bonds pay interest on January 1 and July 1. On October 1, Hansen Company sold $48,000 of the Knight Company bonds acquired on February 1, plus 3 months accrued interest. On December 31, 3 months interest was accrued for the remaining bonds.

Determine the interest earned by Hansen Company on Knight Company bonds for the year.