For the same Treasury bill due on April 16, 2019, what is the bid price of this T-bill using the bid discount yield of 2.353% $996.9218 $997.1241 $997.2583 $998.0167 April 16, 2019 Figure on previous slide shows a T-bill that expires May 30, 2019. It has 44 days to maturity. The bid discount is 2.353% (you use this to calculate the bid price, i.e., the price you will receive for the T-bill). The ask discount is 2.343% (you use this to calculate the ask price, i.e., the price you will pay for the T-bill). Prices are quoted for $1,000 face value. T-bill Ask Price Days to Maturity = FaceValue x 1 x Discount Yield 360 44 = $1,000 X (1- x 2.343%) = $997.1363 360 x (1 2.343%) = Do your work: Get the Bid price of this T-bill using the bid discount yield of 2.353% 12