For Treasury bills, the quoted price is a discount rate. The cash price is calculated as:

Cash Price = Face Value × (1 - Discount Rate × Days/360)

Given:

• Face Value = $1,000,000
• Discount Rate = 5.20% = 0.052
• Days = 182
• Day count convention = 360

Cash Price = $1,000,000 × (1 - 0.052 × 182/360) = $1,000,000 × (1 - 0.052 × 0.5056) = $1,000,000 × (1 - 0.026289) = $1,000,000 × 0.973711 = $973,711

Therefore, the cash price is $973,711.