A 4.75% coupon municipal bond has 22 years left to maturity and can be called in 7 years. Its current price is quoted at 104.45. The bond pays semi-annual coupons. The call premium is one year of coupon payments. Compute the bonds current yield, yield-to-maturity, yield-to-call, and taxable equivalent yield, assuming a tax rate of 28%. Explain why the current yield is not a complete measure of the true rate of return you would earn on a bond.