Feanor is in dire need of cash and borrows 10,000 from Durin. They agree to a 20-year repayment plan, where the payments are to be at the end of each year. Each of the first ten payments is equal to the 130% of the amount of interest due at the time of payment. Each of the last ten payments is a level amount of K. (a) Assuming that Durin charges Feanor interest at an effective annual rate of 10%, what should K be? (b) After 12 years, suspecting Feanor's motives and ability to continue the payments, Durin wants to sell the rights to the future payments a third actor. To cover his relative's liabilities, Glorfindel steps up and offers to purchase the rights to the future payments from Durin, at the exact time t = 12.5. However, Glorfindel states that he would only pay the clean price, which considers the next payment as a coupon payment of a bond. How much will Glorfindel pay