On January 1 of this year, Skyler Company issued a bond with a face value of $80,000 and a coupon rate of 5 percent. The bond matures in 3 years and pays interest every December 31. When the bond was issued, the annual market rate of interest was 6 percent. Skyler uses the effective-interest amortization method. Use the dashboard below to address the required questions: Amortization Bond Amortization $5,000 $4,500 Interest Expense $4,000 $3,500 $3,000 $2,500 Cash Interest Paid $2,000 $1,500 Amortization Cash Interest Paid Interest Expense Year 1 Year 2 Year 3