A T-bill with face value $10,000 and 78 days to maturity is selling at a bank discount ask yield of 2.5%.

a. What is the price of the bill? (Use 360 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Price of the bill ______ $

b. What is its bond equivalent yield? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places.)

Bond equivalent yield _______ %