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A municipal bond has a YTM of 5.13 percent while the YTM of a comparable taxable bond is 7.75 percent. What is the tax rate

A municipal bond has a YTM of 5.13 percent while the YTM of a comparable taxable bond is 7.75 percent. What is the tax rate that will make an investor indifferent between the municipal bond and the taxable bond?

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