Blu$-$Star Corporation issues a $$15,000,000,20-$year bond with a contract rate of $9\%.$ The market rate of interest for similar bonds is $10\%.$ Interest is payable semi$-$annually.

What is the amount of interest expense Blu$-$Star Corporation will recognize with each semi$-$annual interest payment to bondholders? Round to the nearest whole dollar.

a$)$$$491,300$

b$)$$$707,172$

c$)$$$822,200$

d$)$$$675,000$