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In the recent Treasury auctioned of $1 billion par value 91-day T-bills, the following bids were received: Bidder Bid Amount Bid Price A $300 million
In the recent Treasury auctioned of $1 billion par value 91-day T-bills, the following bids were received:
| Bidder | Bid Amount | Bid Price |
| A | $300 million | $0.9910 |
| B | $250 million | $0.9918 |
| C | $500 million | $0.9915 |
| D | $200 million | $0.9909 |
| E | $600 million | $0.9926 |
The Treasury also received $150 million in noncompetitive bids.
Required: Who will receive T-bills, what quantity, and at what price? [10 marks
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