Max Financial Inc. is doing some research on Fixed Income but would like to look at Municipal Bonds for a client that is uncerned about potentially higher tax rates in the future, currently the client is in the 39.7% marginal tax rate. Currently some AA-rated corporate bonds yield 11.92%. If the investment bank finds an opportunity in which the client can invest in a municipal bond issue that yields 4.44%, what would be its taxable- equivalent yield? Rounding to two decimals enter your answer in the box below. Enter your answer as a percentage, for example if your answer is 8.75% enter 8.75 only