Siggi is planning to purchase an Australian Treasury bond with a coupon rate (j₂) of 2.89% p.a. and face value of $100. The maturity date of the bond is 15 May 2033.

If Siggi purchased this bond on 3 May 2018, what is her purchase price (rounded to four decimal places)? Assume a yield rate of 4.32% p.a. compounded half-yearly. Siggi needs to pay 21.1% of coupon payments and capital gains in tax payments. Assume that all tax payments are paid immediately.

a.

$67.5833

b.

$76.0199

c.

$85.6244

d.

$74.7393