Thanks for all your input. Sorry I didn't provide pertinent info at the get go, but I found out new information after posting. If it is a waste of your time, please don't respond then.
As for Princess' first response on the extension before I cancelled the original cruise, they said any monies paid would be extended a year. They didn't provide a date, so I assumed it would be a year from when I cancelled. That is my fault as I should have clarified the end date.
Regardless, thank you to all who provided helpful information.