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Dempsey Railroad Co. is about to issue $250,000 of 6-year bonds paying an 8% interest...

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Accounting

Dempsey Railroad Co. is about to issue $250,000 of 6-year bonds paying an 8% interest rate, with interest payable semiannually. The discount rate for such securities is 6%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much can Dempsey expect to receive for the sale of these bonds? (Round answer to 0 decimal places, e.g. 2,525.)

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