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　　Suppose a bond’s quoted price is 105 7/32 and the accrued interest is $23.54. If the bond has a par value of $1,000, what is the bond’s flat price?
　　A. $1,000.00.
　　B. $1,023.54.
　　C. $1,075.73.
　　D. $1,052.19.
　　Answer:D
　　The flat price is the bond price without the accrued interest, so it is equal to the quoted price of 105 7/32 = $1,052.19.