A company issues a bank-accepted bill to fund a short-term business project. The bill is issued for 180 days, with a face value of $1,750,000 and a yield of 9.25% per annum. What amount will the company raise to fund the project?

After 110 days, the bank bill is sold by the original discounter into the secondary market for $1,700,350. The purchaser holds the bill to maturity. What is the yield received by:

1. the original discounter of the bill?

2. the holder of the bill at the date of maturity?