On November 1, 2021, Pharoah Company purchased Sheridan, Inc.. 10-year, 9%, bonds with a face value of $720000, for $640000. An additional $16000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2028. Pharoah uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Pharoah's 2021 income statement, as a result of Pharoah's available for sale investment in Sheridan was $18400. O $16400. O $14800. O $18000.