Steve Industries purchased a supply of electronic components from Woil Corporation on October 31, 2023. In payment for the 5900.000 purchase, Steve issued a 1-year installment note to be paid in equal monthly payments of $79,964 at the end of each month. The payments include interest at the rate of 12%. What is the amount of interest expense that Steve will report in its income statement for the year ended December 31, 2023? $18,644 $16,273 $17.925 $17,290 Patty Comparny purchased as a long-term investment $800,000 of 4% bonds, dated July 1, on July 1, 2023, Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 6%. The price paid for the bonds was $680,980 on July 1, 2023. Interest is received semiannually on June 30 and December 31 . Due to changing markst conditions the fair value of the bonds at December 31,2023 , was $690,000. At what amount will Patty report its investment in the December 31 . 2023 balance sheet? $655,410 $683.245 5080.980 $690,000