What is the invoice price

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Reference no: EM132473448

You purchase a bond with a coupon rate of 5.3 percent and a clean price of $951. Assume a par value of $1,000. If the next semiannual coupon payment is due in two months, what is the invoice price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132473448

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