A municipal bond you are considering as an investment currently pays a yield of 6.94 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____

%