If an investor is in a 34 percent marginal tax bracket and can purchase a municipal bond

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If an investor is in a 34 percent marginal tax bracket and can purchase a municipal bond paying 7.25 percent, what would the equivalent before-tax return from a nonmunicipal bond have to be to equate the two?
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Fundamentals of Investment Management

ISBN: 978-0078034626

10th edition

Authors: Geoffrey Hirt, Stanley Block

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