On January 1, 2017, Shay issues $380,000 of 9%, 15-year bonds at a price of 97.25. Six years later, on January 1, 2023, Shay retires 30% of these bonds by buying them on the open market at 105.25. All interest is accounted for and paid through December 31, 2022, the day before the purchase. The straight-line method is used to amortize any bond discount.   1. How much does the company receive when it issues the bonds on January 1, 2017

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