Question: Exercise 4,20 (Algorithmic) (LO, 2) On January 1, 2022, Kunto, a cash basis taxpayer, pays $140,533 for a 24 -month certificate of deposit. The certificate

Exercise 4,20 (Algorithmic) (LO, 2) On January 1, 2022, Kunto, a cash basis taxpayer, pays $140,533 for a 24 -month certificate of deposit. The certificate is priced to yieid 4% (the effective interest rate) with interest compounded annually. No interest is paid until maturity, when Kunto receives $152,000. Round all calculations to the nearest dollar. a. Compute Kunto's gross income from the certificate for 2022. \& x b. Compute Kunto's gross income from the certificate for 2023. \$ x Feedback F Check My Work The difference between the cost of the certificate and the amount due at maturity is referred to as original issue discount (OID)

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