A recent listing for a treasury bill gave an asked bank discount yield of 2.31%. Its maturity was 50 days.

a. What is the T-bill's coupon (bond) equivalent yield?

b. What price would the bank pay for this T-bill?

c. What is the effective annual yield (y*) for the T-bill?

d. If the bid bank discount yield was 2.40%, what was the dealers spread in dollars on the bill assuming a ($100,000 par value)?

Please show all work and steps to derive at the solution!