X2 issued callable bonds on January 1, 2021. 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 01/01/2021 $ 155,544 12/31/2021 $ 18,000 $ 17,110 $ 890 154,654 12/31/2022 18,000 17,012 988 153,666 12/31/2023 18,000 16,903 1,097 152,569 12/31/2024 18,000 16,783 1,217 151,351 12/31/2025 18,000 16,649 1,351 150,000 X2 issued the bonds at: