The Treasury is auctioning off $400 million in 13-week (92-days) T-bills. The following bids are received:

Noncompetitive bids: $60 million

Competitive bids:

Ellie Mae Fund $100 million 3.00% bid yield

Jed Clampett Fund $ 30 million 3.15% bid yield

Granny Fund $140 million 3.12% bid yield

Jethro Fund $ 35 million 3.20% bid yield

Drysdale Fund $ 70 million 3.15% bid yield

Hathaway Fund $ 45 million 3.05% bid yield

a.Which funds will have their bids filled and by how much?

b. What is the stopout rate?