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Karen owns city of richmond bonds with a face value of $10,000. she purchased the bonds on january 1, 2018, for $11,000. the maturity date is december 31, 2027. the annual interest rate is 4%. what is the amount of taxable interest income that karen should report for 2018, and the adjusted basis for the bonds at the end of 2018, assuming straight-line amortization is appropriate? $0 and $11,000 $0 and $10,900 $100 and $11,000 $100 and $10,900 none of the above
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Karen owns city of richmond bonds with a face value of $10,000. she purchased the bonds on january 1...
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