TION THREE (i) Quantum Corporation has two different bonds currently outstanding. Bond M has a face value of K20,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $800 every six months over the subsequent eight years, and finally pays 1,000 every six months over the last six years. Bond N also has a face value of $20,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. If the required return on both these bonds is 8 percent compounded semiannually, what is the current price of Bond M and Bond N? (14 marks) (ii) Why is the goal of financial management to maximize the current share price of the company's stock? In other words, why isn't the goal to maximize the future share price? (4 marks) (iii)Who owns a corporation? Describe the process whereby the owners control the firm's management. What is the main reason that an agency relationship exists in the corporate form of organization? In this context, what kinds of problems can arise? (7 marks) Total (25 marks)