Brief Exercise G-15

Sunland Company is about to issue $262,700 of 6-year bonds paying an 9% interest rate, with interest payable semiannually. The discount rate for such securities is 8%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) In this case, how much can Sunland expect to receive from the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,575.)

Sunland can expect to receive