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In a Treasury auction of $2.5 billion par value 91-day T-bills, the following bids were submitted: Bidder Bid Amount Price per $100 1 $500 million

In a Treasury auction of $2.5 billion par value 91-day T-bills, the following bids were submitted:

Bidder

Bid Amount

Price per

$100

1

$500 million

$99.40

2

$750 million

$99.01

3

$1.5 billion

$99.25

4

$1 billion

$99.36

5

$600 million

$99.39

If the Treasury also received $750 million in non-competitive bids, who will receive T-bills, in what quantity, and at what price?

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