Brief Exercise 14-7 (Algo) Straight-line interest on bonds [LO14-2] 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 pald semiannually. What was the straight-line interest expense on the December 31 annual income statement? (Enter your answer in whole dollars. Round your intermediate calculations to the nearest dollar amount.)