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1. The US Treasury announces its intent to auction $15 billion par value of 26-week Treasury bills. It receives $5 billion of non-competitive bids. The
1. The US Treasury announces its intent to auction $15 billion par value of 26-week Treasury bills. It receives $5 billion of non-competitive bids. The competitive bids received are as follows:
| Price Per $1 of Par | Par Value |
| 0.9200 | $3 billion |
| 0.9170 | $4 billion |
| 0.9140 | $5 billion |
| 0.9110 | $4 billion |
| 0.9100 | $3 billion |
What is the revenue that the Treasury could have generated (in billions)? Round your answer to 2 decimal points.
1.B. If the security auctioned above was Canada Government bond, what would be the revenue of the auction? Round your answer to 2 decimal points.
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