Ferry Inc issued a $250,000 bond on March 1, 2020. The bond has a stated interest rate of 10% matures on March 1, 2023 and pays interest on September 1 and March 1 of every year. The market interest rate was 12% when the bond was issued. Ferry Inc has a December 31 year end and uses the effective interest method to amortize bond discount or premium, and uses a discount or premium account Prosent value factors for selected periods and interest rates are shown below. Periods 3 6 Present Value of $1 Present Value of Ordinary Annuity of SI 5%6 6% 10% 12% 5% 0.8638 0.8396 0.7513 0.7118 2.7232 2.6730 2.4869 2.4018 0.7462 0.7050 0.5645 0.5066 5.0757 4.9173 4.3553 41114 The amount of cash received for the bond issue on March 1, 2020 is equal to