finding the cost question

Question

Find the cost, including a sales charge of $1 per bond, for the transaction.

Bond: TSB

Last Price: 91.125

Number Purchased: 104

Group of answer choices

$91,875.00

$103,896.00

$94,770.00

$94,874.00

Answer 1

The sales Charge is cost borne by the seller so it will not affect the buyer's cost;

I am guessing that the face value is $1,000 -- the problem does not state this.

Total cost of transaction = Face Value*Current price*No of Purchase/100

=1000*91.125*104/100

= $94,770.00