On January 1, 2025, Waterway Company sold 11% bonds having a maturity value of $800,000.00 for $895,822.48, which provides the bondholders with a 8% yield. The bonds are dated January 1, 2025, and mature January 1, 2030, with interest payable December 31 of each year. Waterway Company allocates interest and unamortized discount or premium on the effective-interest basis.

Prepare a schedule of interest expense and bond amortization for 20252027. (Round answer to 2 decimal places, e.g. 38,548.25. ) Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method 12/31/25 12/31/26 12/31/27