Sunland Company issues a 12\%, 5-year mortgage note on January 1, 2025, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $46,800. Click here to view the factor table What are the cash proceeds received from the issuance of the note? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Sunland Company should receive $