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The following bids have been submitted for the week's US Treasury 90 day T-Bill auction. The UST wants to sell $1,900 of T-Bills. What is

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The following bids have been submitted for the week's US Treasury 90 day T-Bill auction. The UST wants to sell $1,900 of T-Bills. What is the clearing price for the auction? Amount $400 $250 $725 Bidder Name Lehman Merrill EF Hutton DLJ Smith Barney Baird Price $0.9979 $0.9984 $0.9799 $0.9975 $0.9862 $0.9893 $550 $450 $300 $375 Drexel $0.9989

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