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A municipal bond carries a coupon rate of 6.25% and is trading at par. What would be the equivalent taxable yield of this bond to

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A municipal bond carries a coupon rate of 6.25% and is trading at par. What would be the equivalent taxable yield of this bond to a taxpayer in a 40% tax bracket? (Round your answer to 2 decimal places and put it in the following format XX.XX. Do NOT record starting O's.) Equivalent taxable yield %

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