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If the Marginal Income Tax Rate (MTR) is 25%, a municipal bond with an annual rate of 6.5% offers the same after-tax cash flow with

If the Marginal Income Tax Rate (MTR) is 25%, a municipal bond with an annual rate of 6.5% offers the same after-tax cash flow with a corporate bond that has an interest rate of *

7.67%

8.67%

9.67%

10.67%

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