Henry is planning to purchase a Treasury bond with a coupon rate of 3.02% and face value of $100. The maturity date of the bond is 15 May 2033. (a) If Henry purchased this bond on 3 May 2018, what is his purchase price (rounded to four decimal places)? Assume a yield rate of 2.39% p.a. compounded half-yearly.

Select one:

a. 107.8175

b. 109.3277

c. 109.3263

d. 109.11