On January 1st Year 1, Lihi's Limousines issues a $12,000 face value 5% bond with semi-annual payments. The bond will last five years, ending on January 1st, Year 6. The market rate of interest on the date of the bond's issuance is 10%. Using the above information, what interest expense will Lihi's Limousines record on July 1st, Year 1? Round your final answer to the nearest two decimal places