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A 91-US T-bill (Treasury bill) with a face value of USD 5 million was issued at a discount rate of 2.5%, but is now trading
A 91-US T-bill (Treasury bill) with a face value of USD 5 million was issued at a discount rate of 2.5%, but is now trading at a price of USD 4.9 million. Assuming that a year has 360 days, calculate the discount rate assumed by the T-bill
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