Question: Current Attempt in Progress Your answer is incorrect. Sheridan Company issues a 12%, 3-year mortgage note on January 1, 2022, to obtain financing for

Current Attempt in Progress Your answer is incorrect. Sheridan Company issues a

Current Attempt in Progress Your answer is incorrect. Sheridan Company issues a 12%, 3-year mortgage note on January 1, 2022, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $45,600. 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, e.g. 25.25.) Sheridan Company should receive $ 224189.21

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