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A Treasury bond has a quoted bid price of 101:15 and a quoted ask price of 101:22. What is the amount you will receive if

A Treasury bond has a quoted bid price of 101:15 and a quoted ask price of 101:22. What is the amount you will receive if you sell your bond that has a par value of $15,000? (Remember you purchase at ask price and sell at bid, also, Treasuries are priced in 1/32, so the ask would be calculated as: 15/32 + 101 = price 101.46 (keep entire answer in calculator for next calculation), is a percentage, so 15000 x 1.0146 = Answer)

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