Interest Payment Cash Payment Interest Decrease in Book Date Amount Expense Premium Premium Value June 30, 2022 $800,000 $659,724 $140,276 $1,850,525 $21,850,525 Dec 31, 2022 $800,000 $655,516 $144,484 $1,706,041 $21,706,041 June 30, 2023 $800,000 $651,181 $148,819 $1,557,222 $21,557,222 Dec 31, 2023 $800,000 $646,717 $153,283 $1,403,938 $21,403,938 June 30, 2024 $800,000 $642,118 $157,882 $1,246,057 $21,246,057 Dec 31, 2024 $800,000 $637,382 $162,618 $1,083,438 $21,083,438 June 30, 2025 $800,000 $632,503 $167,497 $915,941 $20,915,941 Dec 31, 2025 $800,000 $627,478 $172,522 $743,420 $20,743,420 June 30, 2026 $800,000 $622,303 $177,697 $565,722 $20,565,722 Dec 31, 2026 $800,000 $616,972 $183,028 $382,694 $20,382,694 June 30, 2027 $800,000 $611,481 $188,519 $194,175 $20,194,175 Dec 31, 2027 $800,000 $605,825 $194,175 $0 $20,000,000 Do the bonds pay interest ANNUALLY or SEMIANNUALLY? SEMIANNUALLY ANNUALLY