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A firm requested reconsideration of the dismissal of its protest against the Veterans Administration's (VA) failure to accept its offers. GAO noted that one of the protesters bids was unsatisfactory because it offered the government a lesser discount than it offered its most favored customers. In its initial protest, the protester argued that: (1) its offer for multiple-award Federal Supply Schedule contracts had been unfairly rejected; and (2) a comparison of the discounts was misleading because it failed to take into account the firm's other concessions which it believed would result in the government receiving more favorable terms. Bid protest regulations require that protests not based on alleged improprieties in a solicitation must be filed not later than 10 working days after the basis of protest is known. GAO found that, since the protester knew the basis of its protest concerning the rejection of one of its offers before the 10-day requirement but did not file the protest until 1 year later, the protest was untimely filed. Since the protester had not been notified by VA whether its other offer had been rejected, its protest was mere speculation. GAO has held that a protest which merely anticipates agency action is speculative and will not be considered. Accordingly, the request for reconsideration was denied.