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At a recent auction of 10-year Treasury Note, total of $100,000,000 (par value) was offered for sale. The total amount of noncompetitive bids were $20,000,000.
At a recent auction of 10-year Treasury Note, total of $100,000,000 (par value) was offered for sale. The total amount of noncompetitive bids were $20,000,000. The highest accepted yield among competitive bids was 0.70%. How much did Treasury department raise by selling this security in total? (Coupons are paid seminannually.) O A. $98,989,186 B. $98,893,491 C. $99,030,819 D. $99,758,332 E. $99,276,869
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