On January 1, 2017 GOOD Co purchased 10,000,000 bonds of Happiness Inc. for 9,241,843. The bond's effective yield is at 10%. The bonds shall mature on January 1, 2022 and pay interest at a coupon rate of 8% every December 31. The company classifies the investment at amortized cost.

On December 31, 2017 the prevailing market rate of interest is 12%, while on December 31, 2018 market rate of interest is 14%.

By the end 2018, because of a financial difficulties experienced by Happiness Inc., it was apparent that Happiness Inc. will no longer be able to pay any interest as they fall due and that from the principal amount, only 75% shall be recovered on the maturity date.

What amount of impairment loss should the company recognized in its income statements in 2018?

Assuming that by the end of 2016, revised estimates places expected recovery at 90% of the principal amount due upon maturity, what is the gain on impairment recovery to be recognized in tis income statements for 2016

Using the information in question 3, what is the correct carrying value of the investment as of December 31, 2017

What is the carrying value of the investment as of December 31, 2019?