It is April 2, 2018, and you are considering purchasing an investment-grade corporate bond that has a $1,000 face value and matures on June 4, 2022. The bonds stated coupon rate is 4.60 percent, and it pays on a semiannual basis (that is, on June 4 and December 4). The bond dealers current ask yield to maturity is 3.80 percent. (Note: Between the last coupon date and today, there are 118 30/360 days. Between last coupon date and the next coupon date, there are 180 30/360 days.)

a. Calculate the total amount (invoice price) you would have to pay for this bond if you purchased the issue to settle today.

b. Separate this total invoice amount into (i) the bonds current flat (without accrued interest) price and (ii) the accrued interest.