Problem 14-2 (Part Level Submission) Martinez Co. is building a new hockey arena at a cost of $2,420,000. It received a downpayment of $540,000 from local businesses to support the project, and now needs to borrow $1,880,000 to complete the project. It therefore decides to issue $1,880,000 of 11%, 10-year bonds. These bonds were issued on January 1, 2016, and pay interest annually on each January 1. The bonds yield 10%. (b) Your answer is partially correct. Try again. Prepare a bond amortization schedule up to and including January 1, 2020, using the effective interest method. (Round answers to o decimal places, e.g. 38,548.) Interest Expense Premium Amortization Carrying Amount of Bonds $ 1995518 54000 Cash Date Paid 1/1/16 8 1/1/17 206800 1/1/18 206800 1/1/19 206800 1/1/20 206800 54000 54000 54000