The open ended sortg indenture of the Va1ley Pover on peroies it to issue Additional bonds froa tine to tine, provided chat such ssues do not exceed 66 2/3 per of additional property pledged, and provided chat average earnings or bond interest in the 3 preceding years have been equal to 2 1/2 tines the interest requirement on che total asount e outstanding. The corporation's outstanding mortgase consist ot..series.A.1asue of $10 "illion, bearing interest A issue of $10 1111on, bear at s percent.and a. Series B issue of $20 illion, bearing interest at 5 1/2 percent. It nov vants to put out Series C issue for the largest peraissible amount to finance the acquisition of land and, generating tacilities, which yill cost $24 illion and vhiclh il be pledged under the indenture. Investaent bankers advise the corporation that to find a market the new bonds aust bear interest at 6 1/2 percent. On the basis of this rate, and assuming that average annual earnings available for bond interest in the past 3-years have been $6,800,000, determine the aaxinua a-ount of Series C bonds that the corporation nay issue while keeping within the linits of the indenture restrictions