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Calculate the after - tax return of a ( n ) 8 . 4 6 percent , 2 0 - year, A - rated corporate

Calculate the after-tax return of a(n)8.46percent,20-year, A-rated corporate bond for an investor in the percent marginal tax bracket. Compare this yield to a(n)5.85percent,20-year, A-rated, tax-exempt municipal bond, and explain which alternative is better. Repeat the calculations and comparison for an investor in the 35 percent marginal tax bracket. The after-tax return of the 8.46%,20-year, A-rated corporate bond for an investor in the 15% marginal tax bracket is

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