On May $1,2023,$ Cullumber Corporation, a publicly listed corporation, issued $$193,900$ of five$-$year, $8\%$ bonds, with interest payable semi$-$annually on November $1$ and May $1.$ The bonds were issued to yield a market interest rate of $6\%.$ Cullumber uses the effective interest method.

Calculate the present value $($issue price$)$ of the bonds on May$(1)$ using the factor tables.