You are a fund manager of Fixed Income Securities Portfolio at State Street. One of your client has approached you for selection of a potential bond investment. You are required to address the queries raised by the investor for the Bond X as per details below. Bond X, described in the exhibit below, is sold for settlement on 16 June 2020. Annual Coupon 5% Coupon Payment Frequency Semiannual Interest Payment Dates 10 April and 10 October Maturity Date 10 October 2022 Day Count Convention 30/360 Annual Yield-to-Maturity 4%

a) What is the price that Bond X settled on 16 June 2020 is closest to? 

b) If the price of the bond is being traded at 105, what is the estimated yield-to-maturity?

c) Estimate the effective duration and approximate convexity of Bond X.