40 X2 sed callable bonds on January 1, 2021 The bonds pay interest annually on December 31 each year. X25 accountant has projected the following amortization schedule from issuance until maturity Decrease in Carrying Value tod Interest Date Cash Paid Expense 01/01/2021 12/31/2021 $7,000 $6,253 12/31/2022 7.000 6,208 12/31/2020 7.000 6,160 12/31/2024 7.000 6.110 12/31/2025 7.000 6,057 $742 792 840 890 Carrying Value $104,212 103, 465 102,673 101,833 100,943 100,000 X2 issued the bonds for Mucho