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(a) If the offered price of a Treasury bill with 78 days to maturity and a $120 million face amount is $118,916,306, what is the

(a) If the offered price of a Treasury bill with 78 days to maturity and a $120 million face amount is $118,916,306, what is the yield on a bank discount basis?

(b) If the bid yield on a bank discount basis is 2.25bp higher than the offered yield, what is the bid price?

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