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Sheridan Company is about to issue $110,000 of 8-year bonds that pay a 8.0% annual interest rate, with interest payable semi-annually. The market interest rate

Sheridan Company is about to issue $110,000 of 8-year bonds that pay a 8.0% annual interest rate, with interest payable semi-annually. The market interest rate is 6%. How much can Sheridan expect to receive for the sale of these bonds?(For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.)

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