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A taxable bond with a coupon rate of 6 . 0 0 % has a market price of 9 9 . 4 2 % of

A taxable bond with a coupon rate of 6.00% has a market price of 99.42% of par. The bond matures in 18.00 years ans pays semi-annually. Assume an investor has a 22.00% marginal tax rate. The investor would prefer otherwise identical tax-exempt bond if it's yield to maturity was more than _____%

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