9. In year 1, Lauderhill Corporation issues three-year bonds. Martha, a cash-basis taxpayer, purchased a $10,000 bond
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9. In year 1, Lauderhill Corporation issues three-year bonds. Martha, a cash-basis taxpayer, purchased a $10,000 bond at its issue price of
$7,000. In year 1, $840 of interest accrues. How much income does Martha report in year 1?
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