CONVERT TAX-EXEMPT TO TAX EQUIVALENT YLD Int, a After-tax yield on municipal bond Int, b Tax equivalent yield on municipal bond t Marginal income tax rate on investor 1. Enter after-tax yield on a municipal bond. 2. Enter marginal tax rate in cell P16. Calculate and record the following: 1. A taxable bond with a 5.00% pre-tax yield to maturity and a 27% marginal tax rate. What is the after-tax yield? 2. A taxable bond with a 7.25% pre-tax yield to maturity and a 40% marginal tax rate. What is the after-tax yield? 3. A tax exempt bond yielding 2.25%. The holder has a 40% marginal tax rate. What is the tax equivalent yield? 3. A tax exempt bond yielding 2.25%. The holder has a 20% marginal tax rate. What is the tax equivalent yield