Today is November 1 2021, Jason plans to make a 360-day investment using two consecutive 180-day $500,000 bank bills. The maturity proceeds of the first bill will be rolled over into the second bill. The purchase yields for the two 180-day bills will be 3.08% and 3.58% p.a., respectively. Note that any surplus funds after 180 days can be invested for 180 days at a rate of 3.93% p.a. simple interest.

a) Calculate the price of first bank bill. Round your answer to four decimal places.

a. 491325.7449

b. 490493.8265

c. 493011.6261

d. 492519.1070