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A client in the 26 percent marginal tax bracket is comparing a municipal bond that offers a 6.4 percent yleld to maturity and a similarrisk

A client in the 26 percent marginal tax bracket is comparing a municipal bond that offers a 6.4 percent yleld to maturity and a similarrisk corporate bond that offers a yield of 9.10 percent. Determine the equivalent taxable yleld. (Round your answer to 2 decimal places.)

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