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The bond has a coupon rate of 12 percent, it makes semiannual payments, and there are 3 months to the next coupon payment. A clean

The bond has a coupon rate of 12 percent, it makes semiannual payments, and there are 3 months to the next coupon payment. A clean price of $1,100 and the par value is $1,000. What is the invoice price?

Answers:	a. $1,130
	b. $1,100
	c. $1,070
	d. $1,000

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