A Treasury bill purchased in December 2016 has 75 days until maturity and a bank discount yield of 2.07 percent. Assume a $100 face value.
a. What is the price of the bill as a percentage of face value? (Do not round intermediate calculations. Round your answer to 3 decimal places.)
b. What is the bond equivalent yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 3 decimal places.)