Show me the steps to solve Cooper River Corporation issued $$1,000,000$ of five$-$year, $8\%$ bonds for $$922,780$ at the

beginning of its fiscal year on July $1,20$Y$5,$ when the market rate is $10\%.$ The interest is

payable semiannually, beginning December $31,20$Y$5.$ Calculate the interest expense and

discount amortization for the first fiscal year using the straight$-$line method for

amortization.