Penny bought a Treasury bond with a coupon rate of j2=2.85% p.a. and face value of $100. The bond will mature on 15 October 2028. Penny purchased this bond on 20 January 2020. (b) What was Penny's purchase price (rounded to five decimal places)? Assume a yield of 4.29% p.a., compounded half-yearly.

a. 90.34787

b. 89.86138

c. 90.35282

d. 88.94196