On July 1, 2018, Ecolleague Co. purchased $3,000,000 of Swan Inc. 8% bonds, due on January 1,2020. The bonds, which pay interest semiannually on January 1 and July 1, were purchased for $2,500,000 to yield 10%. Determine the amount of interest revenue Ecolleague Co. should report on its income statement for the year ended December 31, 2018, assuming Ecolleague Co. plans to hold this investment to collect contractual cash flows.