1. A 270-day Treasury bill (assume a $1000 par value) is quoted as having a price of $978.62. What is its bond equivalent yield? Record your final numerical answers as a percent rounded to 3 decimal places.

2. A 180-day Treasury bill is quoted as having a 3.875% bond equivalent yield. What is the effective annual yield? Record your final numerical answers as a percent rounded to 3 decimal places.