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Sandhill Enterprises issued 12%, 10-year, $2,720,000 bonds that pay interest annually on April 1. The...

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Accounting

Sandhill Enterprises issued 12%, 10-year, $2,720,000 bonds that pay interest annually on April 1. The bonds are dated April 1, 2022, and are issued on that date. The discount rate for such bonds on April 1, 2022, is 14%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Sandhill receive from issuance of the bonds? (Round answer to 0 decimal places, e.g. 125.)

Cash proceeds from issuance of the bonds

$enter the cash proceeds received from the issuance of the bonds in dollars

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