In late 1984, Sonat, the Birmingham, Alabama-based, energy and energy services company, ordered six drilling rigs that can be partly submerged from Daewoo Shipbuilding, a South Korean shipyard. Daewoo agreed to finance the $425 million purchase price with an 8.5 year loan, at an annual interest rate of 9% paid semiannually. The loan principle is payable in 17 equal semiannual installments ($25 million every 6 months). At the time the loan was arranged, the market interest rate on such a loan would have been about 16%. If Sonat's marginal tax rate (federal plus state corporate taxes) was 50% at the time, how much would this loan be worth to Sonat?