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A client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 5.80 percent yield to maturity and a similar-risk

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A client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 5.80 percent yield to maturity and a similar-risk corporate bond that offers a 7.10 percent yield. Determine the equivalent taxable yield. (Round your answer to 2 decimal places.) Which bond will give the client more profit after taxes? Municipal bond Corporate bond

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