An investment dealer paid $24 756.25 to acquire a $25 000, 182-day Government of Canada Treasury bill

Question:

An investment paid $24 756.25 to acquire a $25 000, 182-day Government of Canada Treasury bill at the weekly auction. What was the annual rate of return on this T-bill?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...