Only accept hand-written answer in pdf file format. Keep at least 4 decimals in all calculations. KAL pension fund has to pay $16,400 at the end of year 2, and then $2,100 every quarter forever. Its discount rate is 2% per quarter. It has asset value of $118,000 and currently invests in three bonds. The first one is a 15-year coupon bond with a coupon rate of 13% (coupon paid semiannually) and YTM of 11% (compounded semiannually). The second one is a 34-year coupon bond with a coupon rate of 5% (coupon paid annually) and YTM of 12% (compounded annually). The third one is a perpetual bond with a coupon rate of 7% (coupon paid semiannually) and YTM of 7% (compounded semiannually). If KAL uses net worth immunization and restricts the amount invested in the second bond to 3 times of the amount invested in the third bond, what is the amount it invests in the first bond?