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A Treasury bond with a $1,000,000 par was quoted at 98:23 Bid and 98:27 Asked....

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A Treasury bond with a $1,000,000 par was quoted at 98:23 Bid and 98:27 Asked. Calculate the specific price at which an investor purchases this T-bond. $988,437.50 $982,300.00 $982,700.00 $987,187.50 $1,000,000,00

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