$($Present value$)$ The Kumar Corporation is planning on issuing bonds that pay no interest but can be converted into $$9,000$ at maturity, $13$ years from their purchase. To price these bonds

competitively with other bonds of equal risk, it is determined that they should yield $8$ percent, compounded annually. At what price should the Kumar Corporation sell these bonds?

Kumar Corporation should sell these bonds at $($Round to the nearest cent.$)$