Crane Organics Ltd$.$ Has a number of commercial greenhouse operations in British Columbia$$s Fraser Valley. To finance the additional real estate and greenhouses necessary to meet the increasing demand for the company$$s products, the company decided to issue bonds. On January $1,$ it issued five$-$year, semi$-$annual bonds with a face value of $$82,000,000.$ The contract rate on the bonds was $4\mathrm{.}5\%$ and the bonds were issued at $97\mathrm{.}8$ to yield $5\mathrm{.}0\%.$ Interest payments are to be made each June $30$ and December $31.$

A$)$ Determine the proceeds on insurance of the bonds

Proceeds on insurance of the bonds $$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$