n January 1, 2024, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year.   Assuming the market interest rate on the issue date is 8%, the bonds will issue at $559,740.   Exercise 9-17 (Static) Part 1 Required:      1. Complete the first three rows of an amortization schedule. (Hint: Use Illustration 9–6, except the dates for the first three rows will be 1/1/2024, 12/31/2024, and 12/31/2025 since interest is payable annually rather than semiannually. Interest expense for the period ended December 31, 2024, is calculated as the carrying value of $559,740 times the market rate of 8%.)     Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024       $559,740selected answer correct 12/31/2024 $42,000selected answer correct $44,779selected answer correct $2,779selected answer correct 562,519selected answer correct 12/31/2025 42,000selected answer correct 45,001selected answer correct 3,000selected answer incorrect 565,520selected answer correct

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