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Step by step solution needed to obtain the answers thanks :) A bond of 5,000 nominal is redeemable at 114% on any coupon payment date

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Step by step solution needed to obtain the answers thanks :)

A bond of 5,000 nominal is redeemable at 114% on any coupon payment date between 12 and 22 years from the date of isssue. The bond pays coupons of 9.5% per annum quarterly in arrears. Calculate, to 2 decimal places, the with-dividend price one month after issue that should be paid by investor liable to 19% income tax wishing to achieve an effective annual yield of 2.2% an Answer: 8567.13 X The correct answer is: 8457.66 A bond of 5,000 nominal is redeemable at 114% on any coupon payment date between 12 and 22 years from the date of isssue. The bond pays coupons of 9.5% per annum quarterly in arrears. Calculate, to 2 decimal places, the with-dividend price one month after issue that should be paid by investor liable to 19% income tax wishing to achieve an effective annual yield of 2.2% an Answer: 8567.13 X The correct answer is: 8457.66

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