3.Shaw Company issued 6%, 10-year bonds with a par value of $100,000. Interest is paid semiannually. The market interest rate on the issue date was 8%, and the issuer received $95,016 cash for the bonds. On the first semiannual interest date, what amount of cash should be paid to the holders of these bonds for interest?Hint: The amount of cash interest to be paid is a number between $2,800 and $3,300