$7.$ Chloe is single and in the $24\%$ federal tax bracket and $5\%$ state tax bracket. She is considering the purchase of a municipal bond, with a YTM of $5\%.$ Chloe's tax equivalent yield on the bond $($assume that she is not subject to the $3\mathrm{.}8\%$ Net Investment Income Tax$)$ is closest to:

a$.6\mathrm{.}58\%$

b$.7\mathrm{.}04\%$

c$.5\mathrm{.}26\%$

d$.10\mathrm{.}77\%$