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Assume you are in the 28 percent tax bracket and purchase a 3.50 percent municipal bond. Calculate the taxable equivalent yield for this investment. (Do
Assume you are in the 28 percent tax bracket and purchase a 3.50 percent municipal bond. Calculate the taxable equivalent yield for this investment. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
2.52% is not correct answer
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