9 BONDS QUESTION:Cole Inc. prepares the following effective interest amortization table for its bondspayable.InterestPaymentDateDec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024Dec 31, 2025Dec 31, 2026Dec 31, 2027Dec 31, 2028CashPaymentAmount$87,185$840,000$927,185$840,000$840,000$840,000$840,000$840,000InterestExpenseDecreaseinDiscount Discount$71,169$76,151$911,169$916,151$921,481$927,185$87,185$933,288$93,288$840,000 $939,818 $99,818$840,000 $946,805$840,000$954,282$840,000$962,281$122,281$840,000 $970,841 $130,841$912,133$835,982$81,481 $754,501$667,316$574,028$474,210$106,805 $367,404$114,282$253,123$130,841$0BookValue$13,087,867$13,164,018$13,245,499$13,332,684$13,425,972Dec 31, 2029Dec 31, 2030AHow much CASH will the company pay related to bond interest in 2024?$13,525,790$13,632,596$13,746,877$13,869,159$14,000,000

The cash payment for the bond as per the year will be found by finding the amount left after…

Cole Inc. prepares the following effective interest amortization table for its bonds payable. Interest Payment Date Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Dec 31, 2025 Dec 31, 2026 Dec 31, 2027 Dec 31, 2028 Dec 31, 2029 Dec 31, 2030 Cash Payment Amount $87,185 $840,000 $927,185 Decrease in Interest Expense Discount $840,000 $911,169 $71,169 $840,000 $916,151 $76,151 $840,000 $921,481 $81,481 $840,000 $927,185 $87,185 $840,000 $933,288 $93,288 $840,000 $939,818 $99,818 $474,210 $840,000 $106,805 $367,404 $840,000 $114,282 $253,123 $130,841 $0 $946,805 $954,282 Discount $912,133 $835,982 $754,501 $667,316 $574,028 $840,000 $962,281 $122,281 $840,000 $970,841 $130,841 Book Value $13,087,867 $13,164,018 How much CASH will the company pay related to bond interest in 2024? $13,245,499 $13,332,684 $13,425,972 $13,525,790 $13,632,596 $13,746,877 $13,869,159 $14,000,000