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On June 5, 2020, you purchase a $10,000 T-note that matures on March 15, 2031 (settlement occurs two days after purchase, so you receive
On June 5, 2020, you purchase a $10,000 T-note that matures on March 15, 2031 (settlement occurs two days after purchase, so you receive actual ownership of the bond on October 7, 2019). The coupon rate on the T-note is 7% percent and the current price quoted on the bond is 101.5 percent. The last coupon payment occurred on March 15, 2020 (113 days before settlement), and the next coupon payment will be paid on September 15, 2019 (70 days from settlement). Calculate the full price of this transaction. PRESENT YOUR ANSWER ROUNDED TO ZERO DECIMAL PLACES
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