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PLEASE EXPLAIN YOUR CALCULATIONS If the bid and asked quotes of a Treasury bill with 234 days to maturity are 4.94 and 4.935, respectively. There

PLEASE EXPLAIN YOUR CALCULATIONS

If the bid and asked quotes of a Treasury bill with 234 days to maturity are 4.94 and 4.935, respectively. There are 365 calendar days in that year. An investor buying the bill with a face value of $100,000 and holding it to maturity would earn an effective annual rate of return of ???

%. (Note: answer must be accurate to 2 decimal places.)

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