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23-12-2022
Business

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jason owns blue corporation bonds (face value of $10,000), purchased on january 1, 2021, for $11,000. the bonds have an annual interest rate of 3% and a maturity date of december 31, 2030. if jason elects to amortize the bond premium, what are his taxable interest income for 2021 and the adjusted basis for the bonds at the end of 2021 (assuming straight-line amortization is appropriate)?

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