Question: Exercise 4 - 2 0 ( Algorithmic ) ( LO . 2 ) On January 1 , 2 0 2 3 , Kunto, a cash

Exercise 4-20(Algorithmic)(LO.2)On January 1,2023, Kunto, a cash basis taxpayer, pays $94,305 for a 24-month certificate of deposit. The certificate is priced to yield 4%(the effective interest rate) with interest compounded annually. No interest is paid until maturity, when Kunto receives $102,000.Round all calculations to the nearest dollar.a. Compute Kunto's gross income from the certificate for 2023.b. Compute Kunto's gross income from the certificate for

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