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U.S. Treasury bill with 93 days to maturity is quoted at a discount yield of 1.65 percent. Assume a $1 million face value. What is

U.S. Treasury bill with 93 days to maturity is quoted at a discount yield of 1.65 percent. Assume a $1 million face value. What is the ond equivalent yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 3 decimal places.)

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