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#4 A taxable bond with a coupon rate of 6.00% has a market price of 98.61% of par. The bond matures in 13.00 years ans

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A taxable bond with a coupon rate of 6.00% has a market price of 98.61% of par. The bond matures in 13.00 years ans pays semi-annually. Assume an investor has a 36.00% marginal tax rate. The investor would prefer otherwise identical tax-exempt bond if it's yield to maturity was more than _____%

round to 2 decimal places

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