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Alton Corp. purchased fifteen $1,0006% bonds of Eagle Corporation when the market rate of interest...

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Accounting

Alton Corp. purchased fifteen $1,0006% bonds of Eagle Corporation when the market rate of interest was 12%. Interest is paid semiannually, and the bonds will mature in nine years.
Using the PV function in Excel ?, compute the price Alton 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.)
Alton paid
on the bond investment.
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