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An investor is in the 28% federal tax bracket, pays 6% in state taxes and 2% in local income taxes. For this investor a municipal

An investor is in the 28% federal tax bracket, pays 6% in state taxes and 2% in local income taxes. For this investor a municipal bond paying 4.5% interest is equivalent to a corporate bond paying _____ interest. a. 7.03% b. 9.68% c. 8.47% d. 7.58%

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