The following amortization schedule is related to a bond issuance on January 1, 2020. Amortization Schedule Effective Amortization Cash Interest Interest amount Carrying value $163 168 01/01/20 07/01/20 01/01/21 07/01/21 01/01/22 07/01/22 01/01/23 174 $1,600 1,600 1,600 1,600 1,600 1,600 $2,600 $1,437 1,432 1,426 1,420 1,413 1,407 $8,534 $41,066 40,903 40,735 40,560 40,380 40,193 40,000 180 187 193 $1,066 The annual market interest rate is 8%. 07% 3.5%. 4%