A Treasury bill has a bank discount yield of 6.81% based on the ask price and 6.90% based on the bid price. The maturity of the bill (already accounting for skip-day settlement) is 60 days.

1. Find the bid and ask prices of the bill.
2. Find the bond equivalent yield based on the ask price (assume 365 days in a year).
3. Find the effective annual yield based on the ask price.