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Consider an investor who, on January 1, 2XX1, purchases a TIPS bond with an original principal of $136,000, an 9 percent annual coupon rate, and
Consider an investor who, on January 1, 2XX1, purchases a TIPS bond with an original principal of $136,000, an 9 percent annual coupon rate, and 9 years to maturity. If the semiannual inflation rate during the first six months is 0.8 percent and the semiannual inflation rate for the second six-month period is 1.4 percent, calculate the coupon payment to the investor for the second six-month period. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))
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