Question: Problem 2. David purchases a 15-year, $2,000 par value bond with an annual nom- inal coupon rate of 10% payable semiannually. The purchase price

Problem 2. David purchases a 15-year, $2,000 par value bond with an annual nom- inal coupon rate of 10% payable semiannually. The purchase price will generate a nominal yield to maturity of 12% convertible semiannually. Exactly 2 months after the 10th coupon, David sells the bond at the market price with the same yield rate. Calculate the market/clean price on the sale date.

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