Mason Co. issued $60,000,000 of five-year, 14% bonds with interest payable semiannually, at an effective interest rate of 10%.

Mason Co. issued $60,000,000 of five-year, 14% bonds with interest payable semiannually, at an effective interest rate of 10%.Determine the present value of the bonds payable, using the present value tables in Exhibits 4 and 5 shown below. Round to the nearest dollar.

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