Calculate the price of a $25,000, 91-day Province of British Columbia Treasury bill on its issue date if the current market rate of return is 3.672% simple interest.

Treasury Bill

Short-term government securities issued at a discount from the face value and mature in a year or less, representing a secure investment.

Simple Interest

Interest calculated only on the principal amount, or the initial sum of money invested or loaned.

Market Rate

The prevailing interest rate available in the marketplace for investments, loans, and deposits.