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On September 6, Irene Westing purchased one bond of Mick Corporation at 96.25%. The bond pays 10% interest on June 1 and December 1. The

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On September 6, Irene Westing purchased one bond of Mick Corporation at 96.25%. The bond pays 10% interest on June 1 and December 1. The stockbroker told lrene that she would have to pay the accrued interest and the market price of the bond and a $4 brokerage fee. What was the total purchase price for lrene? Assume a 360-day year (each month is 30 days) in calculating the accrued interest. (Hint: Final cost = Cost of bond + Accrued interest + Brokerage fee. Calculate time for acerued interest) Note: Round your answer to the nearest cent

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