Question: A $ 2 0 , 0 0 0 , 5 . 4 % bond redeemable at par is purchased 9 . 5 years before maturity

A $20,000,5.4% bond redeemable at par is purchased 9.5 years before maturity to yield 9.6% compounded semi-annually. If the bond interest is payable semi-annually, what is the purchase price of the bond?
a)14500
b)14840.41
c)14830.42
d)14600

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