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Blossom Railroad Co. is about to issue $304,000 of 6-year bonds paying an 9% interest rate, with interest payable annually. The discount rate for such

Blossom Railroad Co. is about to issue $304,000 of 6-year bonds paying an 9% interest rate, with interest payable annually. The discount rate for such securities is 10%.

In the case, how much can Blossom expect to receive from the sale of these bonds?

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