Miss Regina Jackson is interested in purchasing six $(6)$ GHH Ltd $3-$year R$100$

redeemable debentures at these debentures current market value. The debentures

however have a call option attached to them, according to which GHH Ltd may redeem

all these debentures after two $(2)$ years. It is anticipated that GHH Ltd will exercise this

right. The debentures offer $143$ basis points above the Johannesburg Interbank

Average Rate $($JIBAR$).$ Currently, the $12-$month JIBAR yield is $8\mathrm{.}95\%.$ This yield is

however expected to change to $8\mathrm{.}82\%$ in one years time. Similar debentures to these

GHH Ltd debentures offer a yield to maturity of $11\mathrm{.}77\%$ per annum. Assist Mr James Storms in

calculating the total purchase price that Miss Regina Jackson will have to pay

to acquire the six $(6)$ GHH Ltd redeemable debentures.