Company A currently holds dollar-denominated bonds and is expected to receive $ 1 billion in principal and interest in a year and six months later. In order to objectively grasp the situation exposed to foreign currency risk, we intend to apply the variance-covariance method. The maturity of dollar-denominated bonds traded on the market is 1 and 2 years, and the annual bond yields are 5% and 6%, respectively. In addition, the annual volatility of bonds was 0.5% and 0.7%, respectively, and the correlation coefficient was determined to be 0.4. Calculate the present value of each when mapping 1 billion to two bond periods.

Assuming a normal distribution under the 99% confidence level, calculate the variance VaR and the non-variance VaR of the position.