Question: Given the following information from an amortization table, compute the interest expense and the carrying value for the next line of the table, rounding your

Given the following information from an amortization table, compute the interest expense and the carrying value for the next line of the table, rounding your answer to the nearest dollar:

2% Cash

Interest

1% Effective

Interest

Premium

Amortization

Carrying

Value

$800

$412

$388

$40,812

Group of answer choices

Interest Expense $408; Carrying Value $40,420

Interest Expense $408; Carrying Value $41,220

Interest Expense $412; Carrying Value $40,420

Interest Expense $412; Carrying Value $41,220

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