Question
A taxable bond with a coupon rate of 9.00% has a market price of 99.31% of par. The bond matures in 9.00 years ans pays
A taxable bond with a coupon rate of 9.00% has a market price of 99.31% of par. The bond matures in 9.00 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 _____%
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Foundations Of Financial Markets And Institutions
Authors: Frank J. Fabozzi, Franco Modigliani, Michael G. Ferri
2nd Edition
0136860567, 9780136860563
