A bank is considering two securities: a 30 year Treasury bond yielding 4 percent and a 30 year municipal bond yielding 3 percent a. Ir the bank's tax rate is 35 percent, calculate the Treasury bond's tax equivalent yield. (Round your onswer to 1 decimal place. (0.9. 32.1)) b. Which bond offers the higher tax equivalent yield? a b Higher tax equivalent yield Higher fax equivalent yield