Cullumber Company issues a 12%, 6-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 $ 53,000. Click here to view the factor table (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What are the cash proceeds received from the issuance of the note? (Round answer to 2 decimal places 1.8. 25.25.) S Cullumber Company should receive