Required information [The following information applies to the questions displayed below.] On January 1, 2024, Cicero Corporation borrowed $15 million from a local bank to construct a new building over three years. The loan will be paid back in three equal installments of $6,031,722 on December 31 of each year. payments include interest at a rate of 10%. Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the mount.) Date 1/1/2024 12/31/2024 12/31/2025 12/31/2026 $ Cash Paid 6,031,722 6,031,722 6,031,722 Interest Expense Change in Carrying Value Carrying Value

Required information [The following information applies to the questions displayed below.] On January 1, 2024, Cicero Corporation borrowed $15 million from a local bank to construct a new building ove three years. The loan will be paid back in three equal installments of $6,031,722 on December 31 of each year. payments include interest at a rate of 10%. Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the hount.)