On April $1,20$x$1$ a company borrowed $$1,000,000$ at a $4\%$ annual rate. Cash payment for interest is not due until March $31,20$x$2.$ Calculate the amount of interest expense to be recognized on December $31,20$x$1.$

WHEN ENTERING YOUR ANSWER: DO NOT USE $ OR DILENEATE $0$s WITH COMMAS. For example $1000,$ not $$1,000.$