For a taxpayer in the $24\%$ marginal tax bracket, a $20-$year municipal bond yielding $2\mathrm{.}8\%$ would offer an taxable equivalent yield of

$2\mathrm{.}26\%$

$2\mathrm{.}37\%$

$3\mathrm{.}68\%$

$2\mathrm{.}13\%$

$3\mathrm{.}47\%$