Treasury wants to issue $30 billion of 180-day Treasury bills. There are $5 billion of noncompetitive bids and $64 billion of competitive bids. The competitive bids are as follows: $13 billion at 2.75%; $11 billion at 3.50%; $10 billion at 4.00%; $9 billion at 3.25%; $8 billion at 3.00%; $7 billion at 3.75%; and $6 billion at 2.50%. (a) What will be the highest return/rate accepted and paid to all successful bidders? (b) What would be the bond-equivalent yield (investment rates) paid to all successful bidders? (c) What would be the price for the newly issued 180-day Treasury bills and report your answer to six decimal places like the Treasury does? Report your answers in the table.

a. Highest return accepted:
b. Bond equivalent yield:
c. Price to six decimal places:

d. If investors want to ensure their bids are accepted, what type of bid should they submit?