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.

(c) 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 and capital gain as tax payment. Assume that all tax payments are paid immediately.

Select one:

a. 63.0856

b. 78.9648

c. 78.3737

d. 88.0840