What is the invoice price of bond

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Reference no: EM131990007

GM's coupon bond, which pays semiannual interest (182 days in the coupon period), has an ask price of 121.50% of its $1,000.00 par value. The coupon rate on the bond is 5.50% and the coupon payment was made one month ago (30 days). What is the invoice price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM131990007

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