On 1-1-1980, Colletty Corporation issued $200,000 (face value) of 10% bonds payable (i.e., the stated rate is 10%). The market rate of interest on similar bonds was 6% at the time of issue (i.e., 1-1-1980). Each bond has a face value of $1,000. The bonds are dated 1-1-1980 and mature 12-31-2019. The bonds pay interest semiannually on 6-30 and 12-31. The market rate of interest on similar bonds was 8% at 12-31-2015. What will be the book value, i.e., historical (amortized) cost of the bonds payable as of 12-31-2015 ?