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Coronado Industries issues a 8%,5-year mortgage note on January 1,2022, to obtain financing for new...

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Accounting

Coronado Industries issues a 8%,5-year mortgage note on January 1,2022, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $46,900.
Click here to view the factor table 1.
Table 2
Table 3
Table 4
What are the cash proceeds received from the issuance of the note? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g.5.24571. Round answer to 2 decimal places, e.g.25.25.)
Coronado Industries should receive
$
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