Note: The stop-out yield of the auction is 1.71 percent (the highest accepted yield). The annual coupon rate of the auction bonds is 1.625 percent (1.710 percent rounded down to the nearest 1/8 percent). For this 10-year T-note, the price every successful bidder paid per

$100 of par is $99.2217501 (N = 10 × 2 = 20; I = 1.71/2 = 0.855; PMT = 1.625/2 = 0.8125, FV = 100; thus, CPT PV = 99.2217501). LO.1