In a treasury auction of $11 billion par value 91-day T-bills, the bids from noncompetitive bidders were $1 billion. The following competitive bids were submitted:

Bidder Price (Per $1000 Par) Bid Amount

1 $987.16 $3.5 billion

2 $987.13 $2.5 billion

3 $987.11 $3.0 billion

4 $987.11 $3.0 billion

5 $987.08 $2.0 billion

6 $987.06 $1.0 billion Who will receive T-Bills in this auction, in what quantity, and at what price? (3 points)