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The Federal Reserve announces an offering of Treasury bills with a face value of $60 billion. Noncompetitive bids are made for $8 billion, along with

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The Federal Reserve announces an offering of Treasury bills with a face value of $60 billion. Noncompetitive bids are made for $8 billion, along with the following competitive bids: a. In a single-price auction, what prices are paid by each bidder? b. In a single-price auction, how much money is raised by the entire offering? (Enter your answer in billions rounded to 2 decimal places.)

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