Question: Using the information from the prior problem (copied below), what would be the clearing price if there was also a non-competitive bid from the Kidder

 Using the information from the prior problem (copied below), what would

Using the information from the prior problem (copied below), what would be the clearing price if there was also a non-competitive bid from the Kidder Peabody Investment Banking operation for $400? The following bids have been submitted for the week's US Treasury 90 day T-Bill auction. The UST wants to sell $1,900 of T-Bills. What is the clearing price for the auction? Amount $400 Price $0.9979 $0.9984 $250 $725 $0.9799 Bidder Name Lehman Merrill EF Hutton DLU Smith Barney Baird Drexel $0.9975 $550 $450 $300 $0.9862 $0.9893 $375 $0.9989

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