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The treasury announces an auction of $13 billion dollars par value of 13-week Treasury bills. $3 billion of noncompetitive bids are received. The competitive bids
The treasury announces an auction of $13 billion dollars par value of 13-week Treasury bills. $3 billion of noncompetitive bids are received. The competitive bids are as follows: Price per $1 of Par .9870 .9860 .9850 .9840 .9830 The total revenue raised is $12.805 billion by single-price auction. What is X?
O $1b
O $2b
O $3b
O $4b
O $5b
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