Suppose you can purchase a $$1$ million Treasury bill that is currently selling on a discount basis at $951/2$ percent of its face value. The T$-$bill is $60$ days from maturity. Calculate the bond equivalent yield.

Multiple Choice

$4\mathrm{.}78\%$

$28\mathrm{.}66\%$

$4\mathrm{.}50\%$

$27\mathrm{.}38\%$

choice $2$ only

none of the above