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Ivanhoe Railroad Co. is about to issue $300,000 of 10 -year bonds paying an 12% interest rate, with interest payable annually. The discountrate for such

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Ivanhoe Railroad Co. is about to issue $300,000 of 10 -year bonds paying an 12% interest rate, with interest payable annually. The discountrate for such securities is 10%. Click here to view the factor table. How much can Ivanhoe expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 0 decimal places, e.g. 2,525.) Present value of bonds

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