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ANZ arranges financing for Super Duper Pty Ltd with a 90 day bank bill with a Face Value of $500,000.City Investments buy the bill when

ANZ arranges financing for Super Duper Pty Ltd with a 90 day bank bill with a Face Value of $500,000.City Investments buy the bill when it is first issued at a yield of 4.75% pa and sell it 30 days later to Prudential Investments at a yield of 4.55% pa.What price does Prudential Investments pay for the bill?

a. $494,211.63

b. $498,137.10

c. $496,288.04

d. $500,000.00

e.$496,126.14

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