Canter Corp. purchased ten $ $1,0005\%$ bonds of Solar Corporation when the market rate of interest was $6\%.$ Interest is paid semiannually, and the bonds will mature in eight 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 Corp. purchased ten $$1,0005\%$ bonds of Solar Corporation when the market rate of interest was $6\%.$ 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.$)$