Given the following T-Bill Quote:

Days to Maturity	Bid	Asked	Change	Ask Yield
122 Days	1.85	1.70	+0.001	?

What is the dollar amount of the dealers profit on $1,000,000 face value of T-bills (i.e., what is the dealers bid-ask spread on $1,000,000)?

What is the Ask Yield or Bond Equivalent yield for this T-bill?

What is the effective annual return on this T-bill?

(Please show all steps)