A client in the 28 percent marginal tax bracket is comparing a municipal bond that offers a 5.6 percent yield to maturity and a similar-risk corporate bond that offers a 8.10 percent yield.

Determine the equivalent taxable yield. (Round your answer to 2 decimal places.)

Equivalent taxable yield

_____________________ %

Which bond will give the client more profit after taxes?

	Corporate bond
	Municipal bond