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A $15,000, 8.7% bond redeemable at par is purchased 8.5 years before maturity to yield 5.9% compounded semi-annually. If the bond interest is payable semi-annually,

A $15,000, 8.7% bond redeemable at par is purchased 8.5 years before maturity to yield 5.9% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond? The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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