Question: This answer is incorrect. Please, Fix it and show your work On January 1, 2021, Joanna Reece paid $293,000 for bonds with a face amount

This answer is incorrect. Please, Fix it and show your work

This answer is incorrect. Please, Fix it and show your work On January 1, 2021, Joanna Reece paid $293,000 for bonds with a

On January 1, 2021, Joanna Reece paid $293,000 for bonds with a face amount of $313,000. The coupon rate of interest is 7%. The effective rate of interest is 10%. Using the effective interest method, how much interest income is recognized by Joanna in 2022 (assume annual interest payments and amortization)? (Round your answer to the nearest dollar amount.) Multiple Choice $29,300 $34,179 $30,039 $20,510

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