A bond of nominal amount 300,000 is bearing coupons payable 4 monthly in arrears at a rate of 5.8% per annum. Capital is to be redeemed at 112% on a single coupon date between 15 March 2017 and 1st March 2025, inclusive. The date of redemption is at the option of the borrower. An investor who is liable to income tax at 24% and capital gains tax of 35% wishes to purchase with- dividend the entire loan on the 1st April 2014. Calculate the maximum price that the investor should pay to ensure a net nominal yield convertible 3 times per year of at least 7.1% per annum. A bond of nominal amount 300,000 is bearing coupons payable 4 monthly in arrears at a rate of 5.8% per annum. Capital is to be redeemed at 112% on a single coupon date between 15 March 2017 and 1st March 2025, inclusive. The date of redemption is at the option of the borrower. An investor who is liable to income tax at 24% and capital gains tax of 35% wishes to purchase with- dividend the entire loan on the 1st April 2014. Calculate the maximum price that the investor should pay to ensure a net nominal yield convertible 3 times per year of at least 7.1% per annum