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On January 1, 2023, Pronghorn Limited paid $508.109.42 for 12% bonds with a maturity value of $490,000. The bonds provide the bondholders witha 11% yield.

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On January 1, 2023, Pronghorn Limited paid $508.109.42 for 12% bonds with a maturity value of $490,000. The bonds provide the bondholders witha 11% yield. They are dated January 1, 2023, and mature on January 1, 2028, with interest receivable on December 31 of each year. Pronghorn accounts for the bonds using the amortized cost approach, applies ASPE using the effective interest method, and has a December 31 year end. Compare the total interest income reported over the five-year period under the effective interest method and the straight-line method. (Round answers to 2 decimal places, e.g. 52.75.) Total interest income ynder the two methods

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