You just started to work as a trader at the IRES bank. A customer is requesting a quote for the asking price of a prepayable (callable) bond. The par value is 100. The bank is currently giving 100.226 as the asking price of an otherwise equivalent non-prepayable (non-callable) bond. The bank's prepayment model gives you 3.215 as the prepayment option premium for the bond. What is the asking price you give to the customer?
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