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Boomer's Bigger Bank is considering an investment in a taxable security that offers a yield of 8.40%. What is the municipal security minimum yield needed

Boomer's Bigger Bank is considering an investment in a taxable security that offers a yield of 8.40%. What is the municipal security minimum yield needed for BBB to be indifferent if BBB's tax rate is 35%? (Answer in % format to the nearest basis point, x.xx, w/ no % sign needed.)

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