Swifty Company sells 8% bonds having a maturity value of $1,600,000 for $1,369,300. The bonds are dated January 1, 2020, and mature January 1, 2025, Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the effective-interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 38,548.)