The Acorn Company issued a semi-annual $1,000 8% bond. The holder of the bond will receive coupon payments of $40 on June 15th and December 15th. If the holder of the bond sells the security to another investor on July 31st how much in accrued interest will be due the seller (in addition to the purchase price of the bond)?

$10.05

$13.33

$40.00

$29.95