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An investor is in a 35% combined federal plus state tax bracket. If corporate bonds offer 8.25% yields, what must municipals offer for the investor

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An investor is in a 35% combined federal plus state tax bracket. If corporate bonds offer 8.25% yields, what must municipals offer for the investor to prefer them to corporate bonds? (Round your answer to 2 decimal places.) Minimum municipals offer 5.36 %

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