Quimby Corp. purchasod five $1,0003% bonds of Solar Cerporabon when the market rate of interest was 12%. Interest is pad semiannually, and the bonds will mature in seven ysurs. Using the PV function in Excel", compute the price Cuimby paid (the present value) for the bond imvestment (Astume that all payments of interest and pricipal occur at the end of the period. Round your antwor to the nearest cent) Ouimby paid on the bond investment