On January $1,2020,$ Canyonero Company purchased $5\%$ bonds, having a maturity value

of $$500,000,$ for $$428,938.$ The bonds provide the bondholders with a $7\%$ yield. They

are dated January $1,2020,$ and mature December $31,2029,$ with interest receivable

semiannually, on June $30$ and December $31$ of each year. Canyonero Company uses the

effective$-$interest method to allocate unamortized discount or premium. The bonds are

classified in the held$-$to$-$maturity category.

How much interest revenue will Canyonero record on December $31,2020$ when the

second interest payment is received?