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An investor invested AUD$27,000,000 in 70-day Australian bank-accepted bills discounted at a yield of 2.45% per annum, 70 days ago. The investor has decided to

An investor invested AUD$27,000,000 in 70-day Australian bank-accepted bills discounted at a yield of 2.45% per annum, 70 days ago. The investor has decided to roll over the value of that entire portfolio at maturity (which is today) into 170-day Australian bank-accepted bills discounted at a yield of 1.65% per annum. The total market value of the 170-day bills invested today will be $_____________ 20 days from today. In 20 days from today, those 170-day bills invested today will be 150-day bills. Assume there are 365 days in one calendar year and discount yields remain unchanged over the next 20 days. (Answer must be correct to the nearest cent, but you may leave your answer with more than 2 decimal places.) [Hint: Calculate the total face value of the of 70-day bills first.]

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