The Ask Yield on a 6% Coupon Treasury Bond Maturing

The ask yield on a 6% coupon Treasury bond maturing in 8 years is 5.488%. If the face value is $1000, what should be the QUOTED cost of the bond today (use semiannual compounding) ?

A) 103:6
B) 103:7
C) 103:8
D) 103:9
E) 103:10 $60 x PVIFA (0.05488/2, 16) + $1,000 x PVIF (0.05488/2,16) = $1,032.79488;
To convert to fraction quote do the following: Round down ($1,032.79488/10) +
Round {($1,032.79488/10) - Round down ($1,032.79488/10) ] x 32} = 103 9/32