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Mom and Pop had a portfolio of long-term bonds that they purchased many years ago. The bonds pay 11% interest annually, and the face value

Mom and Pop had a portfolio of long-term bonds that they purchased many years ago. The bonds pay 11% interest annually, and the face value is $110,000. If Mom and Pop are in the 35% tax bracket, what is their annual after-tax HPR on this investment? (Assume it trades at par.) Mom and Pop's annual after-tax HPR on this investment is \%. (Round to two decimal places.)

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