Find the total purchase price of 35 bonds that have a coupon rate of 4.50% and a current market price of 102.375. The commission charge is $5.00 per bond. The date of the transaction is April 1, and the bond pays interest on January 1 and July 1.
A) $30,225
B) $36,400
C) $30,226
D) $30,426
Correct Answer:
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