Lux Company issues a 10% (annual = 5% semi-annual), 5-year mortgage note on January 1, 2017, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual (5 yrs x 2 ea = 10 periods) installment payments of $48,850. What are the cash proceeds received from the issuance of the note

Lux Company should receive _____________from the issuance of the note.