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Shriver Corp. purchased fifteen $1,0006% bonds of Energy Corporation when the market rate of interest was 12%. Interest is paid semiannualy, and the bonds will

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Shriver Corp. purchased fifteen $1,0006% bonds of Energy Corporation when the market rate of interest was 12%. Interest is paid semiannualy, and the bonds will mature in sox years. Using the PY function in Excel", compute the price Shriver paid (the present value) for the bond investment, (Assume that all pwyments af interest and arincipal occur at the end of the period. Round your anawer to the nearest cent. Shriver paid on the bond investment

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