Amira is contemplating investing in an Australian Treasury bond. It is 2018, and the bond she is considering has a coupon rate of j₂ = 4.71% p.a. and a face value of $100. The maturity date of the bond is 15 May 2033.

Ultimately Amira purchased this bond on 3 May 2018. What was her purchase price (rounded to four decimal places)? Assume a purchase yield of j₂ = 3.12% p.a.

a.

$118.8092

b.

$120.66

c.

$121.1618

d.

$121.1638