First convert the cash price into a price per $100 face value:

$$\frac{967,500}{1,000,000/100} = 96.75$$

Then apply the T-bill discount quote formula:

$$P = \frac{360}{n}(100 - Y)$$

With $n = 180$ and $Y = 96.75$:

$$P = \frac{360}{180}(100 - 96.75) = 2 \times 3.25 = 6.50$$

So the correct answer is 6.50.