Assume that the notes to Echo Valley Ltd.'s financial statements reported the following data on September 30, 2017:

NOTE E: LONG-TERM DEBT

5 percent debentures due 2033, net of unamortized discount of $223,162

(effective interest rate of 6.0 percent) ............................................................... $1,776,838

Echo Valley Ltd. amortizes the discount by the effective-interest method.

Required

1. Answer the following questions about Echo Valley's long-term liabilities:

a. What is the maturity value of the 5 percent debentures?

b. What is the carrying amount of the 5 percent debentures at September 30, 2017? 2018?

c. What are Echo Valley's annual cash interest payments on these debentures?

2. Prepare an amortization table through September 30, 2019, for the 5 percent debentures. Echo Valley pays interest annually on September 30.

3. Record the September 30, 2019, interest payments on the 5 percent debentures.

4. What is Echo Valley's carrying amount of the 5 percent debentures at September 30, 2019, immediately after the interest payment?