TL Bank Is Planning to Purchase a T-Bill with a $100,000

Multiple Choice

TL Bank is planning to purchase a T-bill with a $100,000 face value. The T-bill is quoted at a bank discount of 2.2% and has 300 days to maturity. What is the T-bill's bond equivalent yield (BEY) ?

A) 2.21%
B) 2.23%
C) 2.25%
D) 2.27%