Question
A tax-exempt municipal bond with a coupon rate of 8.00% has a market price of 98.76% of par. The bond matures in 8.00 years and
A tax-exempt municipal bond with a coupon rate of 8.00% has a market price of 98.76% of par. The bond matures in 8.00 years and pays semi-annually. Assume an investor has a 18.00% marginal tax rate. The investor would prefer otherwise identical taxable bond if it's yield to maturity was more than _____%
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An Introduction To Personal Finance
Authors: Anne Marie Ward
2nd Edition
1907214267, 978-1907214264
