1. Bank of Canada offers $10 billion auction of 91 day T bills. It receives the following bids:
$7 billion non-competitive and the following competitive bids
$1 billion at 99.30 or yield 2.8275%
$1 billion at 99.32 or yield 2.7461%
$1 billion at 99.34 or yield 2.6648%
$1 billion at 99.36 or yield 2.5836%
What bids are accepted? What is the price paid for each accepted bids? What is the price paid for the non-competitive bids?