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StockmanCorp. purchased 10,$ 1,000,4%bonds of Current PowerCorporation when the market rate of interest was 12%.Interest is paid semiannually on the bonds, and the bonds will

StockmanCorp. purchased 10,$ 1,000,4%bonds of Current PowerCorporation when the market rate of interest was 12%.Interest is paid semiannually on the bonds, and the bonds will mature in eightyears.Using the PV function in Excel Superscript , compute the price Stockman paid (the present value) on the bond investment.

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