Consider the following Treasury auction and results: Total to be issued: $3.44 billion Total Competitive Bids Received Amount ($ billions) 0.20 0.26 0.33 0.57 0.79 0.96 1.25 $9.00 billion Noncompetitive bids: Bid (yield%) 7.55 (lowest yield/highest price) 7.56 7.57 7.58 7.59 7.60 7.61 d. e. 1.52 f. 2.00 1.12 1.10 No bids above 7.65% a. How much is available to be awarded to competitive bidders? b. What is the stop yield? c. Which bidders will be awarded securities? 7.62 (stop or largest yield/stop or lowest price) 7.63 7.64 7.65 At what yield will a winning bidder be awarded securities? If a bidder bid for $10 million at the stop yield, how much will be awarded to that bidder? What is the bid-to-cover ratio for this auction?