An 8-year 10% Treasury bond is sold to yield j2 = 14% p.a. Suppose coupon payments reinvested at j2 = 11% p.a. This Treasury bond's face value of $100 that matures at par. Assume that this Treasury bond is subject to a 30% tax on interest and capital gain.

Calculate the price at issuing (rounded to three decimal places). Assume the net yield rate is j2 = 10% p.a.

Select one:

a. 70.000

b. 81.153

c. 82.683

d. 83.743