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A bond investor is considering two 10 year maturity bonds both rated A: the municipal bond is yielding 2.40% and the corporate bond is yielding

A bond investor is considering two 10 year maturity bonds both rated A: the municipal bond is yielding 2.40% and the corporate bond is yielding 3.25%. At what marginal tax rate would the bond investor be indifferent between the two bonds? Enter your answer rounded off to two decimal points.

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