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The US Treasury is conducting an auction for $1.8 billion of 90-day US Treasury Bills. What is the market-clearing price based on the following competitive

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The US Treasury is conducting an auction for $1.8 billion of 90-day US Treasury Bills. What is the market-clearing price based on the following competitive bids? Firm Amount ($ in millions) $700 Lubar & Co Bolton Trading Lehman Brothers Goldman Sachs Spellman and Fisher $500 $600 $300 $450 Price $0.9932 $0.9941 $0.9937 $0.9930 $0.9936

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