On January 22 2013, the U.S. Treasury announced that it would auction $30 billion face value 4-week (28 day) Treasury bills The U.S. Treasury received non-competitive bids totaling $1 billion. Suppose that the U.S. Treasury received the following competitive bids: $4 billion at 0.070% $5 billion at 0.065% $5 billion at 0.060% $7 billion at 0.055% $6 billion at 0.050% $6 billion at 0.045% $5 billion at 0.040% a. Which bids are accepted at this auction? b. What is the rate that all successful competitive bidders receive? c. What is the corresponding price (as a percent of face value)? d. What is the corresponding investment yield? e. What price is paid by the non-competitive bidders?