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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 Super Duper sell the bill for?

a.$498,055.54

b.$494,211.63

c.$496,288.04

d.$494,452.65

e.$500,000.00

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