Frederick owned a whole life insurance policy with face-value coverage of $250,000. When he applied for the policy, he indicated that he drank only occasionally and indicated that, on average, he would have one to two drinks per week. On New Year's Eve, Frederick over-indulged. After ringing in the new year, he went to sleep but unfortunately died by choking on his vomit during his sleep. Frederick's family filed a claim on the policy on January 15. Due to the cause of death, it took several months for the insurer to assess the claim. They approved the claim and made payment on April 10th At the time of his death, the policy had a built-up cash value of $9,320. How much can Frederick's beneficiaries expect to receive?