X2 issued callable bonds on January 1, 2024. The bonds pay interest annually on December 31 each year. XZs accountant has projected the following amortization schedule from issuance until maturity: Interest Decrease in Carrying Date 01/01/2024 Cash Paid Expense Carrying Value Value $166,740 12/31/2024 $11,200 $10,004 $1,196 165,544 12/31/2025 11,200 9,933 1,267 164,277 12/31/2026 11,200 9,857 1,343 162,933 12/31/2027 11,200 9,776 1,424 161,509 12/31/2028 11,200 9,691 1,509 160,000