Barnwell Corp. purchased five $$1,0006\%$ bonds of Voltgo Corporation when the market rate of interest was $8\%.$ Interest is paid semiannually, and the bonds will mature in four years.

Using the PV function in Excel ${?}^{},$ compute the price Barnwell 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.$)$

Barnwell paid $$ on the bond investment.