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3. A T-bill with a face value $10,000 and 120 days to maturity is selling at a bank discount ask yield of 2%. a. What

3. A T-bill with a face value $10,000 and 120 days to maturity is selling at a bank discount ask yield of 2%. a. What is the price of the bill? b. What is its bond equivalent yield? (25 points)

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