Quimby Corp. purchased ten $$1,0007\%$ bonds of Circuit Corporation when the market rate of interest was $14\%.$ Interest is paid semiannually, and the bonds will mature in ten years.

Using the PV function in Excel ${?}^{},$ compute the price Quimby 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.$)$

Quimby paid

on the bond investment.