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Calculate the taxable equivalent bond yield of a municipal bond with an interest rate of 9% for an investor in the 40% tax bracket. A.

Calculate the taxable equivalent bond yield of a municipal bond with an interest rate of 9% for an investor in the 40% tax bracket.

A. 16.2%

B. 15.0%

C. 8.9%

D. 12.0%

E. 23.0%

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