On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $73,800 and $3,500, respectively. During Year 2, Kincaid reported $204,000 of credit sales, wrote off $1,950 of receivables as uncollectible, and collected cash from receivables amounting to $252,100. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.

What is the net realizable value of receivables that will be reported on Kincaid's Year 2 balance sheet?