Reunion plc, currently has in issue 10 year corporate bonds with a total face value of 10 million. Each bond has a face value of 100. The coupon payment on the bond is 10% per annum and the bond is due to mature in 2017. This means that Reunion plc has five years of interest payments left to maturity (2013, 2014, 2015, 2016 & 2017). In 2017, Reunion plc will have to repay the 10 million (100 to each bond holder) to its debt investors. Given that the next best alternative investment for its debt holders is presently 6%, calculate the current price of each bond. Given this price, what is the total value of Reunions long-term debt