The following amortization schedule is for Flounder Ltd's investment in Spangler Corp's $108,000, five-year bonds with a 15% interest rate and a 13% yield, which were purchased on December 31, 2019, for $115,597: Amortized Cash Received Interest Income Bond Premium Cost Amortized of Bonds Dec. 31, 2019 $115,597 Dec. 31, 2020 $16.200 $15,028 $1,172 114,425 Dec. 31, 2021 16,200 14.875 1,325 113.100 Dec. 31, 2022 16.200 14,703 1.497 111,603 Dec. 31, 2023 16.200 14,508 1,692 109,911 Dec. 31, 2024 16,200 14.288 1.911 108,000 The following schedule presents a comparison of the amortized cost and fair value of the bonds at year end: Dec. 31, 2020 Amortized cost Fair value $114.425 $113,432 Dec. 31, 2021 $113,100 $115.953 Dec. 31, 2022 $111.603 $113.134 Dec. 31, 2023 $109.911 $111,006 Dec. 31, 2024 $108,000 $108.000 Assume that Flounder Ltd. follows IFRS and reports interest income separately from other investment income