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Interest income from which of the following is SUBJECT to federal, state, and local taxes? I Federal National Mortgage Association issues II Government National Mortgage

Interest income from which of the following is SUBJECT to federal, state, and local taxes?

I Federal National Mortgage Association issues
II Government National Mortgage Association Issues
III U.S. Treasury Bills
IV Federal Intermediate Credit Bank issues

A I only

B I and II only

C III and IV only

D I, II, III, IV

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