Ivanhoe Railroad Co$.$ is about to issue $$110,000$ of $7-$year bonds that pay a $8\mathrm{.}0\%$ annual interest rate, with

interest payable semi$-$annually. The market interest rate is $4\%.$ How much can Ivanhoe expect to receive for

the sale of these bonds? $($For calculation purposes, use $5$ decimal plachs as displayed in the factor table provided.

Round final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}25.)$