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A client in the 34 percent marginal tax bracket is comparing a municipal bond that offers a 5.50 percent yield to maturity and a similar

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A client in the 34 percent marginal tax bracket is comparing a municipal bond that offers a 5.50 percent yield to maturity and a similar - risk corporate bond that offers a 6.95 percent yield. Determine the equivalent taxable yield. (Round your answer to 2 decimal places.) Which bond will give the client more profit after taxes? Corporate bond Municipal bond

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