An investor purchased a 91-day, $100 000 T-bill on its issue date for $99 326.85. After holding it for 42 days, she sold the T-bill for a yield of 2.52%.
(a) What was the original yield of the T-bill?
(b) For what price was the T-bill sold?
(c) What rate of return (per annum) did the investor realize while holding this T-bill?