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If you buy a nine-month T-bill future, you undertake to buy a $1 million three-month bill in nine months time. Suppose that Treasury bills and

If you buy a nine-month T-bill future, you undertake to buy a $1 million three-month bill in nine months time. Suppose that Treasury bills and notes currently offer the following yields:

Months to Maturity Annual Yield
3 7.3%
6 7.8
9 8.3
12 9.3

What is the dollar value of a nine-month bill future? (Do not round intermediate calculations. Round your answer to 4 decimal places.)

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