What is the clean price of the bond

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Reference no: EM132007425

You purchase a bond with an invoice price of $1,120. The bond has a coupon rate of 10.4 percent, semiannual coupons, a $1,000 par value, and there are five months to the next coupon date.

What is the clean price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Clean price $

Reference no: EM132007425

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