During 2020, Gordon Company issued at 104 $500,000 of bonds due in ten years. One detachable stock warrant entitling the holder to purchase 15 shares of Gordon's common stock was attached to each $1000 bond. At the date of issuance, the market value of the bonds, without the stock warrants, was quoted at 98. The market value of each detachable warrant was quoted at $80. What was the total amount of proceeds received