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On August 25, 2017, an investor purchases a $10,000 par T-bond that matures on JUne 15, 2029 (settlement occurs two days after the ourchase, so you receive actual ownership of the bond on August 27, 2017). The coupon rate is 6 percent. The last coupon payment occured on June 15, 2017 (73 days before settlement) and the next coupon will be paid on December 15, 2017 (110 days from settlement). The ask yield is 7 percent. Calculate the dirty price of the bond.

Financial Management, Finance

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