The Hastings Company is a multinational manufacturer of electrical equipment and components. Selected financial information is as follows: Required The company reported that on February $1,2020,$ it issued $$630$ million of $5\mathrm{.}75\%$ secured notes due February $1,2022.1.$ How much interest expense did the company record on August $1,2020,$ assuming semiannual compounding?Note: Round to three decimal places. Use rounded amount in any further calculations. $2.$ How much would the company have raised through the sale of the notes if the market rate of interest had been $6\%$ per year?Answer in millions. Note: Use Excel and round to three decimal places.