On January $1,$ a company issued $7\%,15-$year bonds with a face amount of $$90$ million for $$82,218,695$ to yield $8\%.$ Interest is paid semiannually. What was interest expense at the effective interest rate on June $30,$ the first interest date?

Note: Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial calculator.

Interest Expense