Question: See quoted data on Treasury Bill Rates below: Current date: May 16, 2016 Maturity: September 15, 2016 Bid: 0.263 Asked: 0.253 Chg: 0.003 Asked Yield:

See quoted data on Treasury Bill Rates below:

Current date: May 16, 2016

Maturity: September 15, 2016

Bid: 0.263

Asked: 0.253

Chg: 0.003

Asked Yield: 0.257

Calculate the ask price of the T-bill maturing on September 15, 2016 as of May 16, 2016, assuming 121 days to maturity.

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