QUESTION 22 Reg buys a 90-day bill with a face value of $100 000 at a yield of 5% pa, when it is initially issued. He sells it with 80 days to maturity at a yield of 4% pa. What is his selling price? O A. $97.980 OB. $98,795 OC. $99.131 OD. $98,423 QUESTION 23 ABC company wishes to raise $20m via an issue of 120 day bills at 596 pa. What is the face value of the issue? O A. $20,111,652 B. $20,328,767 OC. $19,852,444 OD. $19,676,550