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The closing price indicates that the IBM bond is being sold at 103.08% of. face value. Rate: 4 Maturity: (matures in year 2042) 42 years

The closing price indicates that the IBM bond is being sold at 103.08% of. face value. 

Rate: 4

Maturity: (matures in year 2042) 42 years

YLD: 3.81

VOL: 110

Close: 103.08

Chg: +0.73%

 

Where did the (103.08) come from? 

What is the proper formula?

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