Question 10 (1 point)

In a Treasury auction for $20 billion worth of Treasury securities, $1 billion worth of non-competitive bids was received. Six competitive bidders submitted the following bids: Bidders Amount ($ billion) Bid (in terms of discount yield) A 5.0 5.41% B 4.5 5.42% C 4.0 5.42% D 4.0 5.43% E 3.5 5.43% F 3.0 5.44% According to today's auction rules Bidder E will receive the following allocation:

A: $2.17 billion

B: $2.25 billion

C: $2.57 billion

D: $3.03 billion