On January $1,$ Year $1,$ Beatie Company borrowed $$270,000$ cash from Central Bank by issuing a five$-$year, $5$ percent note. The principal and interest are to be paid by making annual payments in the amount of $$62,363.$ Payments are to be made December $31$ of each year, beginning December $31,$ Year $1.$

Required

Prepare an amortization schedule for the interest and principal payments for the five$-$year period. $($Round your answers to the nearest dollar amount.$)$