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A bond portfolio manager invested in a $45 million parcel of the 5.75% 15 July 2031 Treasury bond on 15 July 2019 when the market

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A bond portfolio manager invested in a $45 million parcel of the 5.75% 15 July 2031 Treasury bond on 15 July 2019 when the market yield was 6.20% and sold the bonds on 15 January 2024 at 5.40%. Coupons were reinvested at 4.60%. Calculate the (0) buying and selling prices of the bonds, (ii) the accumulated value of the coupons and (iii) the investment yield achieved by the manager. (2 marks)

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