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The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market-clearing price based on the following

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The US Treasury is conducting an auction for $1.6 billion of 90-day US Treasury Bills. What is the market-clearing price based on the following competitive bids? Firm Amount ($ in millions) Price Lubar & Co $700 $0.9934 Bolton Trading $400 $0.9941 Lehman Brothers $600 $0.9937 Goldman Sachs $300 $0.9930 Spellman and Fisher $450 $0.9936 0.9934 Question 4 2 pts Using the information from the prior problem, please calculate the winning price, assuming there is also a non-competitive bid of $550 million. D Question 5 2 pts What is the effective annual yield implied by the price in the scenario with the competitive bidder (refer to Question 3)?

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