Answer :
Final answer:
The correct quoted bid price in the wall street journal would be 97:16.
Explanation:
The bid price of a treasury note is typically quoted in a format that represents the dollar and fractional parts of the price. In this case, the bid price is $975, so we need to convert this to a quoted bid price. The quoted bid price is expressed in 32nds, where the first number represents the dollars and the second number represents the 32nds of a dollar. We can convert $975 to a quoted bid price by dividing it by 32 and expressing the quotient as a mixed number. The correct quoted bid price in the wall street journal would be 97:16.
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