Auerbach inc. issued 6% bonds on October 1,2021 . The bonds have a maturity date of September 30,2031 and a face value of $275 million. The bonds pay interest each March 31 and September 30, beginning March 31,2022 . The effective interest rate established by the market was 8%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.) Mulipie Choice $1100 million. $8.25 million. $16.50 million. $22.00 million