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The most recent settlement bond futures price is 103.5. Which of the following four bonds is cheapest to deliver? Quoted bond price = 131; conversion

The most recent settlement bond futures price is 103.5. Which of the following four bonds is cheapest to deliver?

Quoted bond price = 131; conversion factor = 1.2500

Quoted bond price = 143; conversion factor = 1.3500

Quoted bond price = 160; conversion factor = 1.5200

Quoted bond price = 110; conversion factor = 1.0400

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