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A U.S. Treasury bill with 157 days to maturity is quoted at a discount yield of 2.62 percent. What is the bond equivalent yield? (Do

A U.S. Treasury bill with 157 days to maturity is quoted at a discount yield of 2.62 percent. What is the bond equivalent yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

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