Parent owns 100% of Sub. On the open market parent buy all bonds of the Sub for $700,000 on June 30, 2020. The fiscal year end for both Parent and Sub is December 31. The par value of these bonds on ledger for Sub is $800,000. Interest is paid annually on December 31, at 7%. On the books of the Sub there is an unamortized discount of $60,000 1-What amount of interest expense would need to be eliminated on the consolidated income statement? 2-What amount of interest revenue would need to be eliminated on the consolidated income statement?