Loc is planning to purchase a Treasury bond paying a (j₂) coupon rate of 8.94% 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 21 March 2020, what is his purchase price (rounded to four decimal places)? Assume a yield rate of 2.21% p.a., compounded half-yearly. Loc needs to pay 22.9% of coupon payments and capital gains in tax. Assume that all tax payments are delayed by a half-year.

a.

$180.2380

b.

$139.3998

c.

$168.0057

d.

$163.8372