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17. You have a choice between a municipal bond paying a 5 percent coupon and a corporate bond of the same risk rating paying a

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17. You have a choice between a municipal bond paying a 5 percent coupon and a corporate bond of the same risk rating paying a 6 percent coupon. If you are in the 40 percent tax bracket, what is the before tax yield (equivalent) of the muni? Which should you buy? WHY

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