QUESTION 11 Bond Issue Price Park Manufacturing issued $1.200,000, 6-year, 5% bonds on January 1, 2014. Park's 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)