An investor is purchasing at issue 10,000 nominal a bond with an optional term between 10 years and 27 years that is redeemable at 112%. The bond pays coupons of 4.5% per annum at every 4 months in...

Extracted text: An investor is purchasing at issue 10,000 nominal a bond with an optional term between 10 years and 27 years that is redeemable at 112%. The bond pays coupons of 4.5% per annum at every 4 months in arrears. Assuming that the investor is subject to 11% income tax and is looking to obtain a net redemption yield of 6.9% per annum, calculate, to 2 decimal places, the price paid by the investor.