A $3000 bond that pays 5% semi-annually is redeemable at par in 10 years. Calculate the purchase price if it is sold to yield 4% compounded semi-annually

(Purchase price of a bond is equal to the present value of the redemption price plus the present value of the interest payments).

The purchase price is $_________

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)