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A client in the 3 4 percent marginal tax bracket is comparing a municipal bond that offers a 6 . 4 0 percent yield to

A client in the 34 percent marginal tax bracket is comparing a municipal bond that
offers a 6.40 percent yield to maturity and a similar-risk corporate bond that offers a
7.40 percent yield.
Determine the equivalent taxable yield.
Note: Round your answer to 2 decimal places.
Which bond will give the client more profit after taxes?
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