Assume you are in the $20$ percent tax bracket and purchase a $8\mathrm{.}4$ percent municipal bond.

Calculate the taxable equivalent yield for this investment.

Convert your answer to a percent, then round to $2$ decimal places $($i$.$e$.1\mathrm{.}252\mathrm{.}44,0\mathrm{.}09,12\mathrm{.}44.$

Do not include the $"\%"$ sign in your response.