Stacy Company issued five-year, 10% bonds with a face value of $10,000 on January 1, 2016. Interest is paid annually on December 31. The market rate of interest on this date is 12%, and Stacy Company receives proceeds of $9,279 on the bond issuance. Use the appropriate present value table: PV of $1 and PV of Annuity of $1 Required: 1. Prepare a five-year table to amortize the discount using the effective interest method. Note: Round Interest Expense to nearest whole dollar. Add to the 12/31/2020 Interest Expense amount necessary to ensure ending Carrying Value equals Face Value. Stacy Company Discount Amortization Effective Interest Method of Amortization Cash Interest 10% Interest Expense 12% Discount Amortized Carrying Value Date 1/01/16 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 Totals Feedback > Check My Work 2. What is the total interest expense over the life of the bonds? cash interest payment? discount amortization? Total interest expense Cash interest payment Discount amortization