On May 1, 2010, Carly Company purchased $84,000 of 5%, 12-year Baltimore Company bonds at par plus 2 months’ accrued interest. The bonds pay interest on March 1 and September 1. On October 1, 2010, Carly Company sold $30,000 of the Baltimore Company bonds acquired on May 1, plus one month accrued interest. On December 31, 2010, four months’ interest was accrued for the remaining bonds.
Determine the interest earned by Carly Company on Baltimore Company bonds for 2010.