Bond Issue Price

Park Manufacturing issued $1,200,000, 6-year, 5% bonds on January 1, 20Y4. Parks effective cost of borrowing at that time was 8%. The following time value of money factors may be useful:

PV of a single sum for 6 periods at 5% = 0.74622 PV of an annuity for 6 periods at 5% = 5.07569 PV of a single sum for 6 periods at 8% = 0.63017 PV of an annuity for 6 periods at 8% = 4.62288

How much cash did Park receive from the issuance of the bonds? 

Round your answer to the nearest whole dollar. Include appropriate commas and no dollar signs (e.g. 1,000)