Sandhill Inc. issues $2,061,700 of 11% bonds due in 15 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%. Click here to view factor tables What amount will Sandhill receive when it issues the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Amount received by Sandhill when bonds were issued