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Pharoah Company issued 6\%, 6-year, $225,000 par value bonds that pay interest annually on April...

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Pharoah Company issued 6\%, 6-year, $225,000 par value bonds that pay interest annually on April 1 . The bonds are dated April 1 , 2022 , and are issued on that date. The discount rate of interest for such bonds on April 1,2022 , is 8%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What cash proceeds did Pharoah receive from issuance of the bonds? (Round answer to 0 decimal places, e.g. 125.) Cash proceeds from issuance of the bonds $

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