On July 1, 2023, ABC Corporation issues $1,500,000 of 10-year, 9% bonds dated July 1, 2023 at 92. ABC uses the straight-line method of amortization. Interest is paid each July 1 and January 1. ABC Corporation's fiscal year end is June 30. The interest expense recognized for the first semiannual interest payment on January 1, 2024 is:

On July 1, 2023, ABC Corporation issues $1,500,000 of 10-year, 9% bonds dated July 1, 2023 at 92 . ABC uses the straight-ine method of amortization, Interest is paid each July 1 and January 1. ABC Corporation's fiscal year end is June 30 , The interest expense recognized for the first semiannual interest payment on January 1,2024 is