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Current Attempt in Progress X Your answer is incorrect. Pharoah Company owns 15000 of the...

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Accounting

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Current Attempt in Progress X Your answer is incorrect. Pharoah Company owns 15000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2021, Taylor earns $1040000 and pays cash dividends of $840000. Pharoah should report investment revenue for 2021 of $60000. $312000. $0. $252000. On January 3, 2020, Pharoah Company acquires $428000 of Sheridan Company's 10-year, 10% bonds at a price of $452090 to yield 8%. Interest is payable each December 31. The bonds are classified as held-to-maturity. Assuming that Pharoah Company uses the straight-line method, what is the amount of premium amortization that would be recognized in 2022 related to these bonds? $6633 $2409 $7160 $6102

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