On December 31, 2020, Zettlein 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, $10,400,000 note receivable by the following modifications: 1. 2. Reducing the principal obligation from $10,400,000 to $8,320,000 Extending the maturity date from December 31, 2020, to December 31, 2023, Reducing the interest rate from 12% to 10% 3. Cheyenne pays interest at the end of each year. On December 31, 2023, Cheyenne Company pays $8,320,000 in cash to Zettlein 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 decimal places, eg. 38,548) CHEYENNE COMPANY Interest Payment Schedule After Debt Restructuring Effective-Interest Rate Reduction Effective of Carrying Interest Amount Date Cash Interest Carrying Amount Note 12/31/20 $ $ 12/31/21 8320000 12/31/22 8320000 12/31/23 8320000 Total $ $ $