Assume a $1,000 par value for the 2042 May 15, 3.00% coupon Treasury bond for the date February 25, 2021 presented below. (Note that this bond has semi-annual coupon payments).

Maturity: 5/15/2024

coupon: 3.00

Bid: 114.125

Asked: 114.238

Asked yield: 2.160

Using the above dealer price quote, calculate and verify the Asked (Price) presented above using the discounting and compounding techniques we reviewed in class. You may use Excel functions as a check on your answer but not to answer the question. Assume there are 181 days between coupon payments. Is this the clean or dirty price? (Note - the price you calculate may be up to $0.05 off per $1,000 par).