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A tax-exempt municipal bond with a coupon rate of 6.00% has a market price of 98.43% of par. The bond matures in 12.00 years and

A tax-exempt municipal bond with a coupon rate of 6.00% has a market price of 98.43% of par. The bond matures in 12.00 years and pays semi-annually. Assume an investor has a 23.00% marginal tax rate. The investor would prefer otherwise identical taxable bond if it's yield to maturity was more than %

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