A client in the 36 percent marginal tax bracket is comparing a municipal bond that offers a 6.20 percent yield to maturity and a similar-risk corporate bond that offers a 7.30 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?

	O Municipal bond
	O Corporate bond