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You would like to purchase a Treasury bill that has a $12,000 face value and is 63 days from maturity. The current price of the

You would like to purchase a Treasury bill that has a $12,000 face value and is 63 days from maturity. The current price of the Treasury bill is $11,875. Calculate the discount yield on this Treasury bill. (Use 360 days in a year. Do not round intermediate calculations. Round your percentage answer to 2 decimal places. (e.g., 32.16))

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