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Step by step solution for obtaining the right answer thanks

A fixed interest stock with an optional redemption date at any time between 14 and 24 years from the date of isssue is redeemable at 1 1 1 %. It pays coupons of 4.1% per annum in arrears. An investor, subject to 32% income tax and 35% capital gains tax, makes a with-dividend purchase half a year after issue a 9,000 nominal of the bond and obtains a net effective yield of 9.7% per annum. Calculate, to 2 decimal places, the price paid by the investor. Answer: 50.33 The correct answer is: 3283.40 Incorrect Marks for this submission: 0.0/4.0

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