The federal reserve announces an offering of treasury bills with a face value amount of $25 billion. the response is $5 billion of noncompetitive bids, along with the following competitive bids below:

Bidder Price Bid per $100. Quantity Bid

A $97.0 $5 BILLION

B 95.5 5 BILLION

C 96.5 5 BILLION

D 96.0 5 BILLION

E 95.0 5 BILLION

In a single price auction, which bids are accepted and what prices are paid by each bidder?

A is accepted at $97.0 in $5 billion

B is accepted at $95.0 at $5 billion

C is accepted at $95.5 in $5 billion

D is accepted at $97.0 in $5 billion

E is accepted at $95.0 in $5 billion