A municipal bond you are considering as an investment currently pays a yield of 6.87 percent.

a.	Calculate the tax equivalent yield if your marginal tax rate is 28 percent. (Round your answer to 3 decimal places. (e.g., 32.161))

Tax equivalent yield

%

b.	Calculate the tax equivalent yield if your marginal tax rate is 21 percent. (Round your answer to 3 decimal places. (e.g., 32.161))

Tax equivalent yield

%