Question: Please help me understand how to get the interest expense, thanks. On January 1, a company issued 6%, 15-year bonds with a face amount of

Please help me understand how to get the interest expense, thanks.

On January 1, a company issued 6%, 15-year bonds with a face amount of $60 million for $49,624,854 to yield 8%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement?(Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount.)

Interest expense:

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