On March 1, 2020, Concord Co. issued at 103 plus accrued interest $3,980,000, 9% bonds. The bonds are dated January 1, 2020, and pay interest semiannually on July 1 and January 1. In addition, Concord Co. incurred $30,000 of bond issuance costs. Compute the net amount of cash received by Concord Co. as a result of the issuance of these bonds. (Round final answers to o decimal places, e.g. 5275.) Net cash received