A $10-$year municipal bond has a coupon rate of $4\mathrm{.}5\%$ and just sold today for $104\mathrm{.}56.$

It matures on December $1,2023.$ What is its tax$-$equivalent yield? Assume a

marginal tax rate of $40\%$ and interest is paid June $1$ and December $1.($Do not use

the $\%$ sign with your answer$)$ ANSWER WITH EXCEL