Required Information [The following Information applies to the questions displayed below.] On January 1, 2021, Splash City Issues $490,000 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 9% and the bonds issued at $450,092. Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $452,891 on December 31, 2022. (Round Interest expense to nearest whole dollar.) Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022