Sandhill Co. issues a 12 %, 7- 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 installment payments of $49,500. 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, eg. 25.25) $ Sandhill Co. should receive