A tax-exempt municipal bond has a yield to maturity of 3.45%. An investor, who has a marginal tax rate of 19.00%, would prefer and an otherwise identical taxable corporate bond if it had a yield to maturity of more than ____%.

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))