On December 31, 2017, American Bank enters into a debt restructuring agreement with Cheyenne Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $4,300,000 note receivable by the following modifications:

1.		Reducing the principal obligation from $4,300,000 to $3,440,000.
2.		Extending the maturity date from December 31, 2017, to January 1, 2021.
3.		Reducing the interest rate from 12% to 10%.

Cheyenne pays interest at the end of each year. On January 1, 2021, Cheyenne Company pays $3,440,000 in cash to American Bank.

Assuming that the interest rate Cheyenne should use to compute interest expense in future periods is 1.4276%, prepare the interest payment schedule of the note for Cheyenne Company after the debt restructuring. (Round answers to 0 decimal places, e.g. 38,548.)

CHEYENNE COMPANY Interest Payment Schedule After Debt Restructuring Effective-Interest Rate
Date		Cash Paid		Interest Expense		Reduction of Carrying Amount		Carrying Amount of Note
12/31/17		$		$		$		$
12/31/18
12/31/19
12/31/20
Total		$		$		$