Trish is planning to purchase an Australian Treasury bond with a coupon rate (j₂) of 1.26% p.a. and face value of $100. The maturity date of the bond is 15 May 2033.

If Trish purchased this bond on 3 May 2018, what is her purchase price (rounded to four decimal places)? Assume a yield rate of 3.48% p.a. compounded half-yearly. Trish needs to pay 23% of coupon payments and capital gains in tax payments. Assume that all tax payments are paid immediately.

a.

$57.5746

b.

$66.1472

c.

$66.7086

d.

$74.7467