Oriole Railroad Co. is about to issue $278,000 of 9-year bonds paying an 11% interest rate, with interest payable annually. The discount rate for such securities is 12%. Click here to view the factor table. In this case, how much can Oriole expect to receive from 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, eg. 2,525) Present value of bonds