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A municipal bond issued in Michigan provides a yield (rate of return) of 4.75%. The income tax rate in Michigan is 4.25% and assume the

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A municipal bond issued in Michigan provides a yield (rate of return) of 4.75%. The income tax rate in Michigan is 4.25% and assume the investor's federal income tax rate is 22%. What is the after-tax rate of return on this municipal bond for an investor who resides in Michigan? 4.75% O None of the answer choices. 4.10% 3.85% O 3.50% Next Previous

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