Question 8= On July 1, 2025, Wheeler Company purchased $4,000,000 of Duggen Companys 8% bonds, due on July 1, 2032. The bonds, which pay interest semiannually on January 1 and July 1, were purchased for $3,500,000 to yield 10%. Determine the amount of interest revenue Wheeler should report on its income statement for the year ended December 31, 2025.

If the bonds in Question 8 are classified as available-for-sale and they have a fair value at December 31, 2025, of $3,604,000, prepare the journal entry (if any) at December 31, 2025, to record this transaction. (Answer this question only)