Pharoah Railroad Co$.$ is about to issue $$360,000$ of $10-$year bonds paying an $12\%$ interest rate, with interest payable annually. The

discount rate for such securities is $8\%.$

Click here to view the factor table.

How much can Pharoah expect to receive for 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, e$.$g$.2,525.)$

Present value of bonds

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