• A discount.

• A premium.

• Face amount.

X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Interest Expense Decrease in Carrying Value Cash Paid Date 01/01/2021 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 $15,400 15,400 15,400 15,400 15,400 $14,531 14,444 14,348 14,243 14,127 $ 869 956 1,052 1,157 1,273 Carrying Value $ 145,307 144,438 143,482 142,430 141,273 140,000 X2 issued the bonds at: Multiple Choice Cannot be determined from the given information