Question: You are given the following prices and cash flows associated with bonds. CF stands for cash flow. Bond Price Today CF Year 1 CF Year

You are given the following prices and cash flows associated with bonds. CF stands for cash flow.


Bond	Price Today	CF Year 1	CF Year 2	CF Year 3
A	100.20	10	10	110
B	93.00	100	0	0
C	92.85	5	105	0
D	X	20	20	120

What is the current price of Bond D as per the no-arbitrage principle? In other words, what is the value of X?

[Round your final answer to at least four decimal places. For intermediate steps, round to at least six decimal places so that your final answer is as close as possible to the correct answer. ]

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