A T-bill that is 270 days from maturity is selling for $96,000. The T-bill has a face value of $100,000.

a. Calculate the discount yield, bond equivalent yield, and EAR on the T-bill. (Use 360 days for discount yield and 365 days in a year for bond equivalent yield and effective annual return. Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

Discount yield %

Bond equivalent yield %

EAR %

b. Calculate the discount yield, bond equivalent yield, and EAR on the T-bill if it matures in 345 days. (Use 360 days for discount yield and 365 days in a year for bond equivalent yield and effective annual return. Do not round intermediate calculations. Round your answers to 2 decimal places.(e.g., 32.16))

Discount yield %

Bond equivalent yield %

EAR %