Question: On January 1 , 2 0 2 2 , Kunto, a cash basis taxpayer, pays $ 4 8 , 0 7 7 for a 2

On January 1,2022, Kunto, a cash basis taxpayer, pays $48,077 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 $52,000.
Round all calculations to the nearest dollar.
a. Compute Kunto's gross income from the certificate for 2022.
$fill in the blank 1
b. Compute Kunto's gross income from the certificate for 2023.
$fill in the blank 2

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