Shunda Company wholesales parts to appliance manufacturers. On January $1,$ Shunda issued $$20,000,000$ of $5-$year, $10\%$ bonds at a market $($effective$)$ interest rate of $8\%,$ receiving cash of $$21,622,179.$ Interest is payable semiannually. Shunda$$s fiscal year begins on January $1.$ The company uses the interest method.