Please answer questions with detialed calculations.

Thank you, 14-7 - LO14-2

On January 1 a company issued 4%. 15-year bonds with a face amount of $75 million for $49,062,045 to yield 8%. Interest is paid semiannually. What was the straight-line interest expense on the December 31 annual income statement? (Enter your answer in whole dollars. Round your intermediate calculations to the nearest dollar amount.)