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Jake Baldwin is looking for a fixed - income investment. He is considering two bond issues:a . A Treasury with a yield of 6 .

Jake Baldwin is looking for a fixed-income investment. He is considering two bond issues:a. A Treasury with a yield of 6.57%b. An in-state municipal bond with a yield of 5.27%Jake is in the 32% federal tax bracket and the 6% state tax bracket. Which bond would provide him with a higher tax-adjusted yield?The taxable equivalent yield on the Treasury bond is%.(Round to two decimal places.)

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