Auerbach inc. Issued 7% bonds on October 1,2021 . The bonds have a maturity date of September 30. 2031 and a face value of $300 millon. The bonds pay Interest each March 31 and September 30 , beginning March 31, 2022. The effective interest rate established by the market was 9%. How much cash interest does Auerbach pay on March 31, 2022? (Round your answer to 2 decimal places.)