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Sarah, a portfolio manager plans to buy 1-month Treasury bills in 2 months. The total face amount of securities she plans to buy is $13

Sarah, a portfolio manager plans to buy 1-month Treasury bills in 2 months. The total face amount of securities she plans to buy is $13 million. The current price for 3-month Treasury bills is $998,212 per $1 million face amount. The current, effective, annual risk-free rate over the 2 months is 1.86 percent. Calculate the fair total forward price.

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