A bank is planning to engage in a repurchase agreement (repo) involving a bond it currently holds. Initially, the bank acquires this bond on the day of its coupon payment. Three months thereafter, the bank opts to enter into a repo deal to swiftly raise funds. The following details pertain to the bond and the repo transaction:

• Bond Notional Value: USD 100,000
• Semi-annual Coupon Rate: 5%
• Current Bond Price: USD 98
• Repo Haircut: 5%
• Repo Interest Rate: 3%
• Duration of Repo Contract: 6 months from now

Considering these specific parameters, what will be the bank's projected cash outflow at the conclusion of the repo deal?