Sheridan Railroad Co. is about to issue $330,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 10%. Click below to view the factor tables. Table 1. Future Value of 1 Table 2. Future Value of an Annuity of 1 Table 3. Present Value of 1 Table 4. Present Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Sheridan expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,525.)

Sheridan can expect to receive

$