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Jim's earns 4% per year on an investment in a corporate bond. His marginal tax rate is 12%. What is Jim's after-tax annual rate of

Jim's earns 4% per year on an investment in a corporate bond. His marginal tax rate is 12%. What is Jim's after-tax annual rate of return for this investment?

a. 1.7%

b. .5%

c. 4.8%

d. 3.5%

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