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Marin Inc. issues $4,000,000 of 5% bonds due in 5 years with interest payable at year-end. The current market rate of interest for bonds of

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Marin Inc. issues $4,000,000 of 5% bonds due in 5 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 7%. Click here to view the factor table. What amount will Marin receive when it issues the bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answer to 0 decimal places, e.g. 458,581.) Amount received by Marin when bonds were issued $

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