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1 basis point = 0.01% A bond with a coupon rate of 7% makes semiannual coupon payments on January 15 and July 15 of each

1 basis point = 0.01%

A bond with a coupon rate of 7% makes semiannual coupon payments on January 15 and July 15 of each year. The Wall Street Journal reports the ask price for the bond on January 30 at 1,001.25. What is the invoice price of the bond? The coupon period has 182 days.

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