Desmond Corp. purchased fiteen $1.0003% bonds of Eagle Corporation when the market rate of interest was 8%. Interest is paid semiannually, and the bonds will mature in seven yesars. Using the PV functon in Exce?", compute the price Desmond paid (the present value) for the bond investment. (Assume that all payments of intorest and prinopat occur at the and of the peried. Round your answer to the nearest cent,) Detmond paid on the bond investment