1: ABC Company issued 3,000,000 of 4% debentures on May 1, 2016 and received cash totaling 2,661,789. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2020. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective-interest rate of 5%. Instructions: Calculate the total dollar amount of discount or premium amortization during the first year (1/5/2016 through 30/4/2017) these bonds were outstanding. (Show computations and round to the nearest dollar.)