Question 4 [14 Marks] Creative Financing is planning to offer a R1,000 par value 15-year maturity bond with coupon interest rate that changes every 5 years. The coupon rate for the first 5 years is 10%, 10.75% for the next 5 years, and 11.5% for the final 5 years. Required: If you require an 11% rate of return on a bond of this quality and maturity, what is the maximum price you would pay for the bond? (Assume interest is paid annually at the end of each year)