Suppose Hadden Inc. is negotiating with an insurance company to sell a bond issue. Each bond has a par value of $1,000, it would pay 10 precent per year in quarterly payments of $ 25 per quarter for 10 years, and then it would pay 12 percent per year ($30 per quarter) for the next 10 years ( Years 11-20) . The $1,000 principal would be returned at the end of 20 years. The insurance companys alternative investment is in a 20-year mortgage that has a nominal rate of 14 percent and provides monthly payments. If the mortgage and the bond issue are equally risky, how much should the insurance company be willing to pay Hadden for each bond?