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On September 6, Irene Westing purchased one bond of Mick Corporation at 97.00%. The bond pays 10.75% interest on June 1 and December 1. The

On September 6, Irene Westing purchased one bond of Mick Corporation at 97.00%. The bond pays 10.75% interest on June 1 and December 1. The stockbroker told Irene that she would have to pay the accrued interest and the market price of the bond and a $4 brokerage fee.

What was the total purchase price for Irene? Assume a 360-day year (each month is 30 days) in calculating the accrued interest.

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