Milan Company issued bonds with a face value of $$463,000$ on January $1,$ Year $1.$ The bonds had a $6$ percent stated rate of interest and a six$-$year term. The bonds were issued at face value. Interest is payable on an annual basis.

Required

a$.$ What total amount of interest will Milan Company pay in Year $1$ if bond interest is paid annually each December $31?$

b$.$ What total amount of interest will Milan Company pay in Year $1$ if bond interest is paid semiannually each June $30$ and December $31?($Do not round intermediate calculations.$)$

a$.$ Total amount of interest

b$.$ Total amount of interest