A T-bill quote sheet has 90-day T-bill quotes with a 4.92 ask and a 4.86 bid. If the bill has a $10,000 face value, an investor could sell this bill for ________.

A) $10,000
B) $9,878.50
C) $9,877
D) $9,880.16

T-Bill Quote

The price or interest rate expressed for a Treasury bill; often quoted in terms of discount from face value.

Face Value

The nominal or dollar value printed on a bond or stock certificate; for bonds, it's the amount repaid to the holder at maturity, and for stocks, it is the original cost of the stock.

Bid

An offer made by an investor, trader, or dealer to buy a security, commodity, or currency.