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Assume that the Treasury bond futures price is 108-09. Which of the following four bonds is...

Assume that the Treasury bond futures price is 108-09. Which of the following four bonds is cheapest to deliver (CTD)?

Bond

Price

Conversion Factor

1

102-30

0.9499

2

102-14

0.9444

3

101-11

0.9285

4

99-22

0.9119

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