A $25 000, 10% bond redeemable at par on December 1, 2025, is purchased on September 25, 2014, to yield 7.6% compounded semi-annually. Bond interest is payable semi-annually. Note: June 1, 2014 to December 1, 2025 = 11.5 years.
What is the cash price? Write answer as i.e. 48526.25