A client in the $33$ percent marginal tax bracket is comparing a municipal bond that offers a $5\mathrm{.}80$ percent yield to maturity and a similar$-$

risk corporate bond that offers a $7\mathrm{.}10$ 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?

municipal bond

corporate bond