On 1 January 2022 the investor sold the holding, immediately after the
payment of the coupon then due, to a fund which pays no tax. The sale
price gave the fund a gross redemption yield of at least 9% per annum
effective.
Calculate the following:
(a) The price per $200 nominal at which the investor bought the loan.
(b) The price per $200 nominal at which the investor sold the loan.
(c) The net yield per annum convertible quarterly that was actually obtained by the investor during the period of ownership of the loan.

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