Question 9 (1 mark) In a Treasury auction of $2.1 billion par value 91-day T-bills, the following bids were submitted: Bidder Bid Amount Price per $100 1 $500 million $99.40 2 $750 million $99.01 3 $1.5 billion $99.25 4 $1 billion $99.36 5 $600 million $99.39 If the Treasury also received $750 million of non-competitive bids, who will receive T-bills and at what price? You must show your calculation, otherwise, your mark will be deducted. Answer here