Auerbach Incorporated issued $6\%$ bonds on October $1,2024.$ The bonds have a maturity date of September $30,2034$ and a face value of $$275$ million. The bonds pay interest each March $31$ and September $30,$ beginning March $31,2025.$ The effective interest rate established by the market was $8\%.$

How much cash interest does Auerbach pay on March $31,2025?$

Note: Round your answer to $2$ decimal places.

Multiple Choice

$$8\mathrm{.}25$ million

$$11\mathrm{.}00$ million

$$22\mathrm{.}00$ million

$$16\mathrm{.}50$ million