You buy a TIPS at issue at par for $1,000. The bond has a 5% coupon. Inflation turns out to be 4%, 6%, and 2% over the next 3 years. The total annual coupon income you will receive in year 3 is ______________.
Note this question refers to monetary (cash) income, not the rate. (i. e. $48. 00) Round to the nearest two decimals.