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What the bond discount to be amortized on december is

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Problem 1: On July 1, 2020, Harry Ltd. purchased $200,000 (par value) of Prince's 8% bonds. Because the market rate was 9%, Harry purchased them for $186,992. The bonds pay interest semi-annually on December 31 and June 30. Harry uses the amortized cost model and the effective-interest method to recognize interest income on bond investments. Rounding values to the nearest dollar (if necessary), the bond discount to be amortized on December 31, 2020 is

Option 1: $7,585.

Option 2: $415.

Option 3: $8,000.

Option 4: $8,415.

Reference no: EM132635851

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