The table below gives quotes on T-bills in the secondary market. Use the Asked Yield (bond equivalent yield) to calculate the price of a bond with face value of $10,000.

Maturity Bid Asked Chg Asked Yield

133 days 0.175 0.168 -0.000 0.170

$9,987.81

$9,999.17

$9,993.80 (this is the answer, but I'm not sure why)

$9,991.01

I think you use ibey = ((pf - po)/ po) * 365/days to maturity

and idy = (pf - po)/(pf) * 360/days to maturity