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Loc is planning to purchase a Treasury bond paying a (j2) coupon rate of 4.54% p.a. The face value of the bond is $100. Its

Loc is planning to purchase a Treasury bond paying a (j2) coupon rate of 4.54% p.a. The face value of the bond is $100. Its maturity date is 15 March 2033; the bond matures at par. If Loc purchased this bond on 29 March 2020, what is his purchase price (rounded to four decimal places)? Assume a yield rate of 3.3% p.a., compounded half-yearly. Loc needs to pay 21.3% of coupon payments and capital gains in tax. Assume that all tax payments are delayed by a half-year.

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