• At par.

• At a premium.

• At a discount.

• Cannot be determined from the given information.

Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2021. LPC's accountant has projected the following amortization schedule from issuance until maturity: Cash interest Effective interest Decrease in balance Date 1/1/2021 6/30/2021 12/31/2021 6/30/2022 12/31/2022 6/30/2023 12/31/2023 6/30/2024 12/31/2024 $7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 $6,211 6,187 6,163 6,137 6,112 6,085 6,057 6,029 $789 813 837 863 888 915 943 971 Outstanding balance $207,020 206,230 205, 417 204,580 203, 717 202,829 201,913 200,971 200,000 LPC issued the bonds