Chlo is planning to purchase a Treasury bond paying a (j₂) coupon rate of 9.94% p.a. The face value of the bond is $100. Its maturity date is 15 March 2033; the bond matures at par.

If Chlo purchased this bond on 6 March 2020, what is her purchase price (rounded to four decimal places)? Assume a yield rate of 5.65% p.a., compounded half-yearly. Chlo needs to pay 27.7% of coupon payments and capital gains in tax. Assume that all tax payments are delayed by a half-year.

a.

$105.1358

b.

$120.8987

c.

$143.8283

d.

$116.7289