Sun City issues bonds on January 1, 2012 that pay interest semiannually on June 30 and December 31.

Portions of the bond amortization schedule appear below:

(1) (2) (3) (4) (5) Cash Interest Decrease in Carrying Date Paid Expense Carrying Value Value 1/1/2012 $55,338,768 6/30/2012 2,000,000 1,936,857 63,143 55,275,625 12/31/2012 2,000,000 1,934,647 65,353 55,210,272 50.474,924 6/30/2031 2,000,000 1,766,622 233,378 50,241,546 12/31/2031 2,000,000 1,758,454 241,546 $50,000,000