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Today is 1 July, 2 0 2 2 , Georg plans to purchase a corporate bond with a coupon rate of j 2 = 5
Today is July, Georg plans to purchase a corporate
bond with a coupon rate of j pa and a face value
of $ This corporate bond matures at par. Its maturity date is January, The yield rate is assumed to bej pa Assume that this corporate bond has a chance of default in any sixmonth period during its term.
Assume, also, that, if default occurs, Georg will receive no further payments at all. Calculate Georg's purchase price.
Round your answer to three decimal places.
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