The market interest rate on January 1,2021 was 7%.

Sunland Company issued $672,000 of 8%, 7-year bonds on January 1, 2021. The bonds pay interest annually. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Prepare an effective interest amortization table for this bond. (Round answers to decimal places, e.g. 5,276.) SUNLAND COMPANY Bond Premium Amortization Table Effective-Interest Method-Annual Interest Payments 8% Bonds Issued at market rate of 7% Interest Expense Premium Amortization Date Interest Payment Bond Amortize $ $ $ Jan. 1. 2021 Jan 1, 2022 Jan. 1. 2023 Jan 1. 2024