What is the invoice price of the bond

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Reference no: EM132000134

A coupon bond paying semiannual interest is reported as having an ask price of 120% of its $1,000 par value. If the last interest payment was made one month ago and the coupon rate is 6%, what is the invoice price of the bond? Assume that the month has 30 days. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Invoice price $

Reference no: EM132000134

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