Auerbach Incorporated issued 7% bonds on October 1, 2024. The bonds have a maturity date of September 30, 2034 and a face value of $400 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2025. The effective interest rate established by the market was 9%. How much cash interest does Auerbach pay on March 31, 2025? Note: Round your answer to 2 decimal places. Multiple Choice $14.00 million $18.00 million $28.00 million $36.00 million