Claire Corporation is planning to issue bonds with a face value of $$260,000$ and a coupon rate of $12$ percent. The bonds

mature in two years and pay interest quarterly every March $31,$ June $30,$ September $30,$ and December $31.$ All of the bonds

were sold on January $1$ of this year. Claire uses the effective$-$interest amortization method and also uses a discount

account. Assume an annual market rate of interest of $16$ percent.$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

What bonds payable amount will Claire report on this year's December $31$ balance sheet?

Note: Round your final answer to nearest whole dollar amount.

Answer is complete but not entirely correct.