In a Treasury auction of $2 billion par value-91-day T-bills, the following competitive bids were submitted:

Bidder	1	2	3	4	5
Bid Amount	$500 million	$800 million	$1.5 billion	$1.1 billion	$700 million
Price	$0.9950	$0.9911	$0.9935	$0.9946	$0.9949

Assume there are $800 million non-competitive bids. Who will receive T-bills?

a.

(1) and (2) only

b.

(1) and (5) only

c.

(1) and (3) only

d.

(1), (2), (3), (4) and (5)