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The Treasury Department would like to raise $24 billion in 90 day T Bills. The auction results are as follows: Noncompetitive bids = $3.4 billion

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The Treasury Department would like to raise $24 billion in 90 day T Bills. The auction results are as follows: Noncompetitive bids = $3.4 billion Competitive Bids: Investor Bid Price Quantity(Face Value) 99.94677% $7.8 billion B 99.97567% $5.8 billion C 99.95668% $5.2 billion D 99.96997% $3.2 billion E 99.95112% $8.6 billion What is the stop-out price? O 99.95668% O 99.97567% 99.95112% O 99.96997% O 99.94677%

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