Arnartization of Discount Stacy Company issued five-year, 17% bonds with a face value of $19,000 on January 1, 2016. Interest is paid annually on December 31. The market rate of interest on this date is 13%, and Stacy Company receives proceeds of $16,331 on the bond issuance, Use the appropriate present value table: PV of $1 and PV of Annuity of $1 Required: 1. Prepare a five-year table to amortize the discount using the effective interest method. If required, round all calculations to the nearest dollar. Enter all amounts as positive numbers. Discount Amortization Effective Interest Method of Amortization Date Cash Interest 12% Interest Expense 13% Discount Amortized Carrying Value 1/01/16 12/31/16 $2,200 12/31/17 2,280 12/31/18 2.280 12/31/19 2,290 12/31/20 2.20 Tatals 11,400 Faik Check My Work Face rate of interest is the amount of interest that will be paid on the bands as indicated in the band contract. Determine the Interest expense. Determine Discount Amortized. Add the amortized discount to carrying value for new carrying value. 2. What is the total interest expense over the life of the bonds7 cash interest payment discount amortization? Total interest expense Cash interest payment Discount arnartization