Xyz corporation parks its excess cash in treasury


XYZ corporation parks its excess cash in Treasury securities to earn a little extra income. Today, XYZ purchased a $100,000 T-Bill in the secondary market for $99,225.76. The T-Bill will mature in 73 days. What is the bond equivalent yield for this security, assuming XYZ holds it to maturity? Show your answer in decimal form to four decimal places. For example, if your answer was 12.34% then you would enter 0.1234 as the answer.

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Financial Management: Xyz corporation parks its excess cash in treasury
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