Under the assumption that$$ KMS$\text{'}$s market share will increase by $0\mathrm{.}22\%0\mathrm{.}22\%$ per$$ year, you determine that the plant will require an expansion in $2015.$ KMS$\text{'}$s current outstanding$$ debt, the interest on the$$ debt, and the interest tax shield are given in the table below. The expansion will cost $ $20\mathrm{.}5$$$20\mathrm{.}5$ million. Assuming that the financing of the expansion will be delayed accordingly$($end of$2015),$ calculate the projected interest payments and the amount of the projected interest tax shields$($assuming that KMS still uses a$10-$year bond, interest rates remain the same at $7\mathrm{.}2\%7\mathrm{.}2\%,$ and$$ KMS$\text{'}$s tax rate is $35\%35\%)$ through $2018.$

Current values $($$$000)$

$2013$

$2014$

$2015$

$2016$

$2017$

$2018$

Outstanding debt before expansion

$ $4$ comma $645$$$4,645$

$ $4$ comma $645$$$4,645$

$ $4$ comma $645$$$4,645$

$ $4$ comma $645$$$4,645$

$ $4$ comma $645$$$4,645$

$ $4$ comma $645$$$4,645$

Interest on debt before expansion

$ $334$$$334$

$ $334$$$334$

$ $334$$$334$

$ $334$$$334$

$ $334$$$334$

$ $334$$$334$

Interest Tax Shield before expansion

$ $117$$$117$

$ $117$$$117$

$ $117$$$117$

$ $117$$$117$

$ $117$$$117$

$ $117$$$117$

Question content area bottom

Part $1$

The total projected interest payments beginning in $2015$ will be $$$enter your response here. $($Round to the nearest$$ dollar.$)$