A Treasury Inflation Protection Security was issued with a 3.10% coupon rate. The semi-annual inflation rates over the next 4 six month periods is 1%, 0%, 3% and -1% respectively. What is the coupon interest payment in the 4th period if the original principal was $1,000,000?

$15.345

$31,927

$15,963, is this right?

$11,799