Bridgeport inc. issues $2,500,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 12%

What amount will Bridgeport receive when it issues the bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places)

Amount received by Bridgeport when bonds were issued $