John purchased a 150-day $500,000 bank bill (at a simple interest rate) on 15 July 2021. The purchase price was $490,550. He sold this bank bill on 13 August 2021. (b) Assume that John sold this bank bill at a simple interest rate of 3.17% p.a. up to the maturity date of the above bank bill.

What is the annualised (simple interest) yield for this investment from 15 July 2021 to 13 August 2021? Round your answer to 3 decimal places in terms of percentage.

a. 9.924%

b. 10.905%

c. 11.182%

d. 10.647%