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Assume you are in the 33 percent tax bracket and purchase a 4.20 percent, tax-exempt municipal bond. Calculate the tax-equivalent yield for this investment. (Round

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Assume you are in the 33 percent tax bracket and purchase a 4.20 percent, tax-exempt municipal bond. Calculate the tax-equivalent yield for this investment. (Round your answer to 2 decimal places. Omit the "%" sign in your response.) Tax-equivalent yield %

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