Jason Owns Blue Corporation Bonds (Face Value of $10,000),purchased on January

question 187

Multiple Choice

Jason owns Blue Corporation bonds (face value of $10,000) ,purchased on January 1,2015,for $11,000.The bonds have an annual interest rate of 8% and a maturity date of December 31,2024.If Jason elects to amortize the bond premium,what is his taxable interest income for 2015 and the adjusted basis for the bonds at the end of 2015 (assuming straight-line amortization is appropriate) ?

• A)$800 and $11,000
• B)$800 and $10,900
• C)$700 and $11,000
• D)$700 and $10,900
• E)None of the above

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Definitions:

Single-parent Families

Households led by only one parent, who takes on the role of both caring for the children and providing for the family financially.

Latchkey Children

Children who return from school to an empty home because their parents or guardians are away at work and thus they carry keys to their homes.

Nuclear Families

A household unit composed of both parents and their offspring, residing together as one entity.

Behavioral Symptoms

Observable actions or reactions of a person, often associated with a particular condition or disorder, that may impact their functioning.