On January $1,20$X$7,$ P issued $8\%$ bonds with a face value of $$6,000,000$ to S$,$ its subsidiary, for $$6,300,000.$ The bonds have a life of $25$ years and pay interest semiannually on July $1$ and January $1.$ In preparing the consolidation entries for $20$x$7,$ how much interest receivable will be eliminated because of these intercompany bonds? $($Both companies use straight$-$line amortization for any bond premiums$/$discounts$.)$