Answer: $973,711

## Explanation For a U.S. Treasury bill quoted at a discount rate of 5.20%, the cash price is calculated as: \[ \text{Cash Price} = \text{Face Value} \times \left(1 - \frac{\text{Discount Rate} \times \text{Days}}{360}\right) \] Given: - Face Value = $1,000,000 - Discount Rate = 5.20% = 0.052 - Days = 182 \[ \text{Cash Price} = 1,000,000 \times \left(1 - \frac{0.052 \times 182}{360}\right) \] \[ = 1,000,000 \times \left(1 - \frac{9.464}{360}\right) \] \[ = 1,000,000 \times \left(1 - 0.0262889\right) \] \[ = 1,000,000 \times 0.9737111 \] \[ = \$973,711 \] Therefore, the correct cash price is $973,711.

Author: LeetQuiz .