Question: A Treasury inflation protected security is issued on December 31, 2023, with a par value of $1,000 and a 3% annual coupon. If inflation in

A Treasury inflation protected security is issued on December 31, 2023, with a par value of $1,000 and a 3% annual coupon. If inflation in 2024 turns out to be 5%, what will the coupon payment be on December 31, 2024? Round to the nearest penny

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