8. (2 points) Mel issued $2,000,000 of 3%, 5-year term bonds on 03-01-18 when the market rate for similar bonds was 3%. The bonds were dated 01-01-18 with interest payable January 01 and July 01. Upon issuing the bonds, Mel incurred and paid $7,500 of bond issuance costs. What amount (net) did Mel receive upon issuing these bonds