Question
A bank is considering an investment in a municipal security that offers a yield of 9 percent. What is this security's equivalent pre-tax yield if
A bank is considering an investment in a municipal security that offers a yield of 9 percent. What is this security's equivalent pre-tax yield if the bank's tax rate is 25 percent?(Round your answer to 2 decimal places. (e.g., 32.16))
Security's equivalent pre-tax yield ________%
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
1506326846, 9781506326863, 1506326862, 978-1506326849
