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Dempsey Railroad Co. is about to issue $400,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such

Dempsey Railroad Co. is about to issue $400,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 10%.(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Dempsey. expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,525.)

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