This question is based on the following

information on a bond: $[$ Bond $-$ Principal: R

$5000000$ Issue date: $30$ June $2021$

Maturity date: $15$ September $2026$ Coupon

rate: $7\mathrm{.}00\%$ Coupon payment dates: $30$

June and $31$ December. The bond register

closes one month before the coupon

payment dates$].$ Suppose that the bond

traded at a market price of R $103\mathrm{.}475\%$ for

settlement on $10$ December $2021.$ The

number of days from $30$ June $2021$ to $10$

December $2021$ is $163$ and the number of

days from $10$ December $2021$ to $31$

December $2021$ is $21.$ What was the all$-$in

price that the bond traded at in the

secondary market? $($note: your answer

must be in SA rand, NOT rand percent$)$

Answer: R