On December 31, 2025, American Bank enters into a debt restructuring agreement with Flint Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $4,400,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,400,000 to $2,990,000. 2. Extending the maturity date from December 31, 2025, to January 1, 2029. 3. Reducing the interest rate from 12% to 10%. Flint pays interest at the end of each year. On January 1, 2029, Flint Company pays $2,990,000 in cash to American Bank. Answer the following questions related to American Bank (creditor). Click here to view factor tables. Your answer is partially correct. Compute the loss American Bank will suffer under this new term modification. (Round present value factor to 5 decimal places, e.g. 0.23465 and final answer to O decimal places, e.g. 38,548.) Loss on restructuring of debt $ 1.591,627 Prepare the interest receipt schedule for American Bank after the debt restructuring. (Round answers to O decimal places, e.g. 38,548.) te Cash Received: 1/25 $ 1/26 299,000 AMERICAN BANK Interest Receipt Schedule After Debt Restructuring Effective-Interest Rate Interest Revenue $ $ 337,005 Increase Carrying in Carrying Amount Value of Note 2.80 38,005 2,8 C Ac 1/27 299.000 341,565 42,565 2,81 Qu ACC 1/28 299.000 346.673 47,673 4,40 Vie Acce 897,000 eTextbook and Media