a. FNB has outstanding N$100 million (par value) bonds that pay an annual coupon rate of interest of 10.5%. The par value of each bond is N$1,000. The bonds are scheduled to mature i 20 years. Because of FNB's increased risk, investors now require a 14% rate of return on bonds of similar quality with 20 years remaining until maturity. The bonds are calculated at the end of years at face value plus 10% of par value (i.e. 110% of par value). i)What price would the bonds sell for today, assuming investors do not expect them to be called after 10 years?