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A bank is considering an investment in a municipal security that offers a yield of 7 percent. What is this security's tax equivalent yleld if

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A bank is considering an investment in a municipal security that offers a yield of 7 percent. What is this security's tax equivalent yleld if the bank's tax rate is 35 percent? (Round your answer to 2 decimal places. (e.g., 32,16)) Security's tax equivalent yield 96

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