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Answer :
Final Answer:
The quoted bid price in the Wall Street Journal would be 97:16
(Option B) is correct.
Explanation:
To determine the quoted bid price in the Wall Street Journal, follow these steps:
When quoting the bid price for a treasury note, it is typically expressed in a "point-16ths" format. In this format, the first two digits represent the full points, and the last two digits represent the 16ths of a point. The bid price you provided, $975, can be converted to the "point-16ths" format by multiplying it by 32. So, $975 * 32 = 31,200.
Now, break down 31,200 into its point and 16ths components. The full points are 31, and the 16ths are 200. Therefore, the quoted bid price is 97:16.
(Option B) is correct.
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