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An investor in the 32% tax bracket is considering two investment options of equal risk: a corporate bond that yields 8.25% and a municipal (muni)

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An investor in the 32% tax bracket is considering two investment options of equal risk: a corporate bond that yields 8.25% and a municipal (muni) bond that yields 4.75%. Assuming the investor will select the bond with the highest yield, which bond should this investor choose? What is the after tax yield (ATY) on the recommended bond? Be sure to show your work for partial and/or full credit

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