Today is 15 November 2021, Sandy just purchased a Treasury bond with a coupon rate of j₂ = 3.105% p.a. and a face value of $100 that matures at par. The maturity date of this bond is 15 May 2023.

c) If Sandy needs to pay tax, what is her purchase price (rounded to four decimal places)? Given that Sandy needs to pay 30% on coupon payment and capital gain as tax payment. Assume that all tax payments are paid immediately and the yield rate is j₂ = 3.74% p.a.

a. 96.8382

b. 96.3003

c. 89.8816

d. 99.0820