The CEO of Big Valley Hospital has approved temporary financing of a major hospital expansion by selling $$10$ million of three$-$year term bonds with a coupon $($stated$)$ interest rate of $3$ percent. Interest is payable annually.End of Year $0$End of Year $1$End of Year $2$End of Year $3$TotalsBond Face amount$$10,000,000$Yearly interest $$300,000$$$300,000$$$300,000$$$900,000$Principal Repayment$$10,000,000$$$10,000,000$Total Payments $$10,900,000$The market rate at the date of the bond issue is $2$ percent$\mathrm{.}1.$ How much cash will Big Valley Hospital get from issuing the bonds? $($Ignore issuance cost$)\mathrm{.}2.$ What will be the amount of Year $1$ interest in the financial statements for the bonds?$3.$ What journal entry will be required to record interest expense for Year $1?$