Lily just purchased a 10-year 4.77% p.a. Treasury bond with a face value of $100. The bond will be redeemable at par (i.e., redeemed at face value). Yield rates over the next 10 years are expected to be j₂=3.10% from year 1 to year 3, j₂=2.22% from year 4 to year 7 and j₂=3.92% from year 8 to year 10.

How much should Lily pay at purchase (rounded to four decimal places)?

Lily just purchased a 10-year 4.77% p.a. Treasury bond with a face value of $100. The bond will be redeemable at par (i.e., redeemed at face value). Yield rates over the next 10 years are expected to be j2=3.10% from year 1 to year 3, j2=2.22% from year 4 to year 7 and j2=3.92% from year 8 to year 10. How much should Lily pay at purchase (rounded to four decimal places)