Casey just purchased a $1,000 face value bond at an invoice price of $1,288.16. The bond has a coupon rate of 6.2 percent, semiannual interest payments, and the next interest payment occurs one month from today. Of the amount paid for the bond, what was the dollar amount of the accrued interest?
A) $25.83
B) $5.17
C) $31.00
D) $27.39
E) $6.20
A) $25.83
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