On January 1, 2024, White Water issues $400,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $436,784.

1. Using an amortization schedule, show that the bonds have a carrying value of $432,116 on December 31, 2026. (Round your final answers to the nearest whole dollar.)