Alton Corp. purchased five $$1,0005\%$ bonds of Solar Corporation when the market rate of interest was $14\%.$ Interest is

paid semiannually, and the bonds will mature in nine years.

Using the PV function in Excel ${?}^{},$ compute the price Alton paid $($the present value$)$ for the bond investment. $($Assume that

all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.$)$