On May $15,2022,$ Powell Incorporated obtained a six$-$month working capital loan from its bank. The face amount of the note signed by the treasurer was $$495,800.$ The interest rate charged by the bank was $9\mathrm{.}00\%.$ The bank made the loan on a discount basis.

b$.$ Calculate the amount of interest expense applicable to this loan during the fiscal year ended June $30,2022.$