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InterTech Corporation needed financing to build a new manufacturing plant. On June 3 0 th of this year, InterTech issued $ 2 1 7 5

InterTech Corporation needed financing to build a new manufacturing plant. On June $30$ th of this year, InterTech issued $ $2175350, 000$ of $8 -$ year bonds with a $6 %$ coupon rate $($ payments due on December $31$ st and June $30$ th $) .$ The effective interest rate was $8 % .$

What amount in interest expense did InterTech record for the June $30$ payment in the next year?

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