A T-bill with face value $10,000 and 79 days to maturity is selling at a bank discount ask yield of 2.6%. 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 $ 9,942.94

How did they get the above answer? the 9,942.94?

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 2.65 %

How do I answer this?