Your Company issued bonds with a par value of $$1,000,000$ at $97$ on January $1,$ Year $1.$ The bonds had a stated interest rate of $4\%$ with a $20$ year term. Interest is paid annually on December $31.$ At the time the bonds were issued the market rate was $5\%.$

How much cash does Your Company have to pay bondholders on each December $31?$