Jared would like to buy a US T-bill. He noticed that the yield on a US T-bill differs from that on a Canadian T-bill when sold at the same purchase price and term. Which of the following statements about the yield on US and Canadian T-bills is true?

a) The yield quoted for a US T-bill is higher than on a Canadian T-bill when sold at the same purchase price and term.

b) The yield quoted for a US T-bill is lower than on a Canadian T-bill when sold at the same purchase price and term.

c) The yield on US T-bills are higher than Canadian yields because the US dollar is stronger than the Canadian dollar.

d) The yield quoted on US and Canadian T-bills should always be the same when sold at the same price.