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It is July 30, 2021. The cheapest-to-deliver bond in a September 2021 Treasury bond futures contract is a 5% coupon bond, and delivery is expected

It is July 30, 2021. The cheapest-to-deliver bond in a September 2021 Treasury bond futures contract is a 5% coupon bond, and delivery is expected to be made on September 30, 2021. Coupon payments on the bond are made on May 15 and November 15 each year. The repo rate is 0.5% per annum (.005). The conversion factor for the CTD bond is 0.90. The current quoted CTD bond price is $146.30 (decimal per $100 of face value). Calculate the quoted futures price for the contract.

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