Canter Corp. purchased fifteen $1,000 7% bonds of Simplex Simplex Corporation when the market rate of interest was 12%. Interest is paid semiannually, and the bonds will mature in ten years. Using the PV function in Excel Superscript compute the price Canter

Canter 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.)