On October 1,CulverLtd. purchased7% bonds with a face value of $1,000for trading purposes, accounting for the investment at FV-NI. The bonds were priced at1.023to yieldCulver5%, and pay interest annually each October 1.Culverhas a December 31 year end, and at this date, the bonds' fair value was $1,050. AssumeCulverapplies IFRS and follows a policy of not reporting interest income separately from other investment income.