A 5- year corporate bond yields 9.70%. A 5- year municipal bond of equal rush yields 6.5%. Assume that the state tax rate is zero. At what federal tax rate are you indifferent between the two bonds?

Force Completion this test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test. Remaining Time: 3 hours, 20 minutes, 46 seconds. Question Completion Status: Moving to another question will save this response. Question Question 13 A 5-year corporate bond yields 9.70%. A 5-year municipal bond of equal risk yields 6.5%. Assume that the state tax rate is zero. At what federal tax rate are you indifferent between the two bonds (Round your final answe 4 points decimal places.) a. 25.40% b.29.03% c27.38% d. 33.98% O e. 32.99%