Suppose that the conversion factor for a particular Treasury bond that is accept- able for delivery in
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Suppose that the conversion factor for a particular Treasury bond that is accept- able for delivery in a Treasury bond futures contract is 0.85 and that the futures price settles at 105. Assume also that the accrued interest for this Treasury bond is 4. What is the invoice price if the seller delivers this Treasury bond at the settle- ment date?
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