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I tried your solution, but my appearance is already set to 16: 9 by default but I still have black bars. I do not know how to remove them.
Just by way of curiosity, of the image itself inside that "frame" of black bars, does it appear normal? Or does it appear vertically squeezed?, You might try to adjust it by selecting "Neither 16:9 or 4:3" in the Aspect Ratio Handling, With your clip on the timeline, right-click on it and you'll see "Set Image Attributes" a side-window will appear, in that select, "Set Aspect Ratio" and you'll have the window to set your clip's Aspect Ratio. The bottom(or third) of the three options is "Neither 4:3 or 16:9" Select that and try whichever option it provides. The only other idea I could suggest is if you have an earlier version of Power Director(as far back as, perhaps Version 9) still installed alongside Version 14, Import your clip to that version and see how it behaves in comparison to its appearance in PD14.
Beyond these, I don't have any other suggestions. In relation to the question I asked, if the image appears "normal" it could be a 20:9, cinematic aspect ratio. That would be very rare because hobby video cameras generally shoot 16:9(just a "thought bubble").
Neil.