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an insurance company has a 4 0 % corporate tax rate. Their investment manager has a choice between buying a AAA - rated 2 0

an insurance company has a 40% corporate tax rate. Their investment manager has a choice between buying a AAA-rated 20 year corporate bond with a yield of 6.9%, and a AAA-rated GO a municipal bond with a yield of 5.5%. which should it choose

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