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An investor is in the 32% federal tax bracket. He is considering purchasing either a municipal bond or a corporate bond; the bonds have exactly
An investor is in the 32% federal tax bracket. He is considering purchasing either a municipal bond or a corporate bond; the bonds have exactly the same terms and features other than their yield. The yield on the municipal bond is 3%. The yield on the corporate bond must be __________ in order for the investor to be indifferent between the two bonds
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