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Holding risk constant, an investor earning 4% from a tax-exempt bond who is in a 20% tax bracket would be indifferent between that bond and:
Holding risk constant, an investor earning 4% from a tax-exempt bond who is in a 20% tax bracket would be indifferent between that bond and: O A taxable bond with a 6% yield O A taxable bond with a 8.0% yield O A taxable bond with a 5% yield O A taxable bond with a 7.5% yield
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