Canter Corp. purchased five $1,000 7% bonds of Simplex Corporation when the market rate of interest was 10%. Interest is paid semiannually, and the bonds will mature in six years. Using the PV function in Excel, compute the price 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.) Canter paid on the bond investment.