Ten bonds are purchased for $8,310.93 and are kept for 5 years. The bond coupon rate is 8% per year, payable semi-annually. Immediately following the owner's receipt of the last coupon payment, the owner sells each bond for $50 less than its par value (price discount). The owner will invest in the bonds if the effective annual yield is at least 10%.

Q: What is the face value of each bond?