Assume an investor is in the 28 percent federal tax bracket and faces a 7 percent marginal

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Assume an investor is in the 28 percent federal tax bracket and faces a 7 percent marginal state tax rate. What is the combined TEY for a municipal bond paying 6 percent?

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Investments Analysis and Management

ISBN: 978-1118363294

12th edition

Authors: Charles P. Jones

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Question Posted: Dec 15, 2015 06:04 AM

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Assume an investor is in the 28 percent federal tax bracket and faces a 7 percent marginal

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First calculate the effective state rate as Marginal state rate x ...View the full answer

Investments Analysis and Management

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