Henry is planning to purchase a Treasury bond with a coupon rate of 1.32% and face value of $100. The maturity date of the bond is 15 May 2033.

(b) If Henry purchased this bond on 4 May 2018, what is his purchase price (rounded to four decimal places)? Assume a yield rate of 2.31% p.a. compounded half-yearly. Henry needs to pay 28.4% on coupon payment as tax payment and tax are paid immediately.

Select one:

a. 83.6780

b. 83.1957

c. 82.7226

d. 83.1948