Stanbic Bank has an outstanding 10 percent bond issue with a face value of $1000 per bond and three years to maturity. Interest is payable annually. The bonds are privately held by Debswana Pension Fund and wishes to sell them to another party. It estimates that, in the current market conditions, the bonds should provide a nominal return of 14 percent. Calculate the price of the bond that should be realized on the sale. (8 Marks)