Suppose that Treasury futures price is 94-08. Which of the following bonds that can be delivered...

Suppose that Treasury futures price is 94-08. Which of the following bonds that can be delivered is cheapest to deliver bond? Bond 1: Price 99-16 and Conversion factor 1.02; Bond 2: Price 110-16 and Conversion factor 1.15; Bond 3: Price 120-16 and Conversion factor 1.23

		Any bond can be cheapeast to deliver bond
		Bond 1
		Bond 2
		Bond 3

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