Using the T-bill discount quotation formula per $100 face value:

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

where:

• $P$ = quoted discount rate
• $n$ = days to maturity
• $Y$ = cash price per $100 face value

Solve for cash price:

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

Substitute the values:

$$Y = 100 - 4.50\cdot\frac{28}{360} = 99.65$$

For $1,000,000 face value:

$$99.65\times\frac{1,000,000}{100} = 996,500$$

So the correct answer is $996,500.