The following amortization schedule is related to a bond issuance on January 1, 2020. Amortization Schedule Cash Interest Effective Interest Amortization Bond carrying amount value 01/01/20 $41,066 07/01/20 $1,600 $1,437 $163 40,903 01/01/21 1,600 1,432 168 40,735 07/01/21 1,600 1,426 174 40,560 01/01/22 1,600 1,420 180 40,380 07/01/22 1,600 1,413 187 40,193 01/01/23 1,600 1,407 193 40,000 $9,600 $8,534 $1,066 The amount of interest paid in 2020 is O $1,437. O $2,869. O $1,600. O $3,200