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Bank of Canada announces an offering of Treasury bills with a face value amount of $25 billion. The response is $5 billion of non-competitive bids,
Bank of Canada announces an offering of Treasury bills with a face value amount of $25 billion. The response is $5 billion of non-competitive bids, along with the following competitive bids:
| Bidder | A | B | C | D | E |
| Price Bid | $9,500 | $9,550 | $9,600 | $9,650 | $9,700 |
| Quantity Bid | $5 billion | $5 billion | $5 billion | $5 billion | $5 billion |
In a single-price auction, which bids are accepted and what prices are paid by each bidder? How much money is raised by the entire offering?
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