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A bank is considering an investment in a municipal security that offers a yleld of 8 percent. What is this security's tax equivalent yield if

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A bank is considering an investment in a municipal security that offers a yleld of 8 percent. What is this security's tax equivalent yield if the bank's tax rate is 30 percent? (Round your answer to 2 decimal places. (e.g., 32.16)) Security's tax equivalent yield %

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