Question
A taxable bond with a coupon rate of 5.00% has a market price of 98.14% of par. The bond matures in 12.00 years ans pays
A taxable bond with a coupon rate of 5.00% has a market price of 98.14% of par. The bond matures in 12.00 years ans pays semi-annually. Assume an investor has a 36.00% marginal tax rate. The investor would prefer otherwise identical tax-exempt bond if it's yield to maturity was more than _____%
SHOW WORK FOR FINANCIAL CALCULATOR PLEASE
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Law And Financial Stability
Authors: International Monetary Fund
1st Edition
1513523007, 978-1513523002
