Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity:

Date	Cash Paid			Interest Expense			Increase in Carrying Value			Carrying Value
01/01/2021										$	342,840
06/30/2021	$	21,600		$	23,999		$	2,399			345,239
12/31/2021		21,600			24,167			2,567			347,806
06/30/2022		21,600			24,346			2,746			350,552
12/31/2022		21,600			24,539			2,939			353,491
06/30/2023		21,600			24,744			3,144			356,635
12/31/2023		21,600			24,965			3,365			360,000

THA issued the bonds for:

Multiple Choice

• $489,600.

• Cannot be determined from the given information.

• $360,000.

• $342,840.