Question: ANSWER ASAP PLEASE 1. The US Treasury is conducting an auction for $1.8 billion of 90-day US Treasury Bills. What is the market-clearing price based

ANSWER ASAP PLEASE

1. The US Treasury is conducting an auction for $1.8 billion of 90-day US Treasury Bills. What is the market-clearing price based on the following competitive bids?

Firm Amount ($ in millions) Price
Lubar & Co $700 $0.9932
Bolton Trading $500 $0.9941
Lehman Brothers $600 $0.9937
Goldman Sachs $300 $0.9930
Spellman and Fisher $450 $0.9936

2. Using the information from the prior problem, please calculate the winning price assuming there is also a non-competitive bid of $1 billion.

3. What is the discount rate implied by the price in the scenario with the competitive bidder

ANSWER ASAP. WILL RATE SO PLEASE ENSURE ACCURACY.

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