On January 1, 2023, Limoyo Corporation purchased 600 of $1,000 face value, 8% bonds of Leon Company. The current market rate is 10%. The bonds, which mature on December 31, 2028, pay interest semi-annually on June 30 and December 31. Limoyo Corporation designated the investment as FVOCI. The fair value of the bonds are as followed:

101 as of December 31, 2023; and 98 as of December 31, 2024. Which of the following statement is incorrect?

Question 20Select one:

a. The Accumulated OCI - unrealized gain/loss would have a credit balance of $52,329 as of December 31, 2023.

b. The Accumulated OCI - unrealized gain/loss would have a debit balance of $26,777 as of December 31, 2024.

c. The net present value (bond price) is $546,822

d. Interest income of $27,341 will be recorded on June 30, 2023.