Bramble Corp. issues $5120000, 7 %, 5-year bonds dated January 1, 2020 on January 1, 2020. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 6%. What are the proceeds from the bond issue? 3.0% 3.5% 6% 7% Present value of a single sum for 5 periods Present value of a single sum for 10 periods Present value of an annuity for 5 periods Present value of an annuity for 10 periods 0.86261 0.84197 0.74726 0.71299 0.74409 0.70892 0.55839 0.50835 4.57971 4.51505 4.21236 4.10020 8.53020 8.31661 7.36009 7.02358 Sheridan owes $2.5 million that is due on February 28. The company borrows $1800000 on February 25 (5-year note) and uses the proceeds to pay down the $2.5 million note and uses other cash to pay the balance. How much of the $2.5 million note is classified as long-term in the December 31 financial statements? $700000. $0. $2500000. $1800000. 00