The entity purchased 6,000,000 12% bonds on January 1,2021. The interest is payable annually. The bond indenture indicates that the bonds must be payable for 3 equal annual installment starting...

Extracted text: The entity purchased 6,000,000 12% bonds on January 1,2021. The interest is payable annually. The bond indenture indicates that the bonds must be payable for 3 equal annual installment starting Dec.31,2021. The effective interest of the bond is 14%. How much is the interest income on 2022? 567,456 545,866 570,000 480,000