An investor is purchasing at issue 250,000 nominal a bond with an optional term between 6 years and 17 years that is redeemable at 95%. The bond pays coupons of 6.5% per annum at every 4 months in arrears. Assuming that the investor is subject to 18% income tax and 30% capital gains tax and is looking to obtain a net effective yield of 1.2% per 4 months, calculate, to 2 decimal places, the price paid by the investor. Answer: Check