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Assume you are in the 33 percent tax bracket and purchase a municipal bond with a yield of 6.25 percent. What is the taxable equivalent

Assume you are in the 33 percent tax bracket and purchase a municipal bond with a yield of 6.25 percent. What is the taxable equivalent yield for this investment? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal
places.)

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