Rodgers Corporation produces and sells football equipment. On July 1, 20Y1, Rodgers issued $94,000,000 of 20-year, 14% bonds at a market (effective) interest rate of 12%, receiving cash of $108,120,680. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

b. The first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium, using the interest method. Round to the nearest dollar.

c. The interest payment on June 30, 20Y2, and the amortization of the bond premium, using the interest method. Round to the nearest dollar.

Determine the total interest expense for 20Y1. Round to the nearest dollar.