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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 7.56% b. An in-state

image text in transcribed Jake Baldwin is looking for a fixed-income investment. He is considering two bond issues: a. A Treasury with a yield of 7.56% b. An in-state municipal bond with a yield of 5.85% 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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