Sheridan Inc. issues $$3,200,000$ of $7\%$ bonds due in $10$ years with interest payable at year$-$end. The

current market rate of interest for bonds of similar risk is $9\%.$

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What amount will Sheridan receive when it issues the bonds? $($For calculation purposes, use $5$

decimal places as displayed in the factor table provided and final answer to $0$ decimal places,

e$.$g$.458,581.)$

Amount received by Sheridan when bonds were issued $