Question: X 2 issued callable bonds on January 1 , 2 0 2 4 . The bonds pay interest annually on December 3 1 each year.

X2 issued callable bonds on January 1,2024. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity:
DateCash PaidInterest ExpenseDecrease in Carrying ValueCarrying Value01/01/2024$217,76112/31/2024$25,200$23,954$1,246216,51512/31/202525,20023,8171,383215,13212/31/202625,20023,6641,536213,59612/31/202725,20023,4961,704211,89212/31/202825,20023,3081,892210,000
X2 issued the bonds at:
Multiple Choice
face amount.
a premium.
a discount.
Cannot be determined from the given information.

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