X2 issued callable bonds on January 1, 2024. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity:

Date	Cash Paid	Interest Expense	Decrease in Carrying Value	Carrying Value
01/01/2024				$ 104,212
12/31/2024	$ 7,000	$ 6,253	$ 747	103,465
12/31/2025	7,000	6,208	792	102,673
12/31/2026	7,000	6,160	840	101,833
12/31/2027	7,000	6,110	890	100,943
12/31/2028	7,000	6,057	943	100,000

X2 issued the bonds for:

Multiple Choice

$104,212.

$107,000.

$100,000.

Cannot be determined from the given information.