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Pharaoah Company purchases $3200000 of 9%, 5 -year bonds from Wildhorse Inc on January 1, 2021 with interest payable on July 1 and January 1.

Pharaoah Company purchases $3200000 of 9%, 5 -year bonds from Wildhorse Inc on January 1, 2021 with interest payable on July 1 and January 1. The bonds sold for $3324740 at an effective interest rate of 8%. Using the effective-interest method, Pharaoh Company decreased the Available for Sale Debt Securities account for the Wildhorse Inc. bonds on July 1, 2021, and December 31, 2021 by the amortized premiums of $11020 and $11380, respectively. At December 31, 2021, the fair value of the Wildhorse Inc. bonds was $3380000. What should Pharaoh Company report as other comprehensive income as a separate component of stockholders equity?

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