On January $1,2018,$ UMPI Co$.$ sold $$5,000,000$ of its $10\%$ bonds for $$4,426,480$ to yield $12\%.$ Interest is payable semi$-$annually on January $1$ and July $1.$ What amount should UMPI report as interest payable $($cash amount paid to investor$)$ for the six months ended June $30,2018?$

Question $9$ options:

$250,000$

$265,589$

$300,000$

$221,330$