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On January 1, 2015, Carr Company purchased Fay Company 9% bonds with a face amount of P4,000,000 for P3,756,000 to yield 10%. The bonds are

On January 1, 2015, Carr Company purchased Fay Company 9% bonds with a face amount of P4,000,000 for

P3,756,000 to yield 10%. The bonds are dated January 1, 2015, mature on December 31, 2024, and pay

interest annually on December 31. Carr Company used the interest method of amortizing bond discount.

What total amount should be reported as interest revenue from the bond investment for 2015?

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