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Mom and Pop had a portfolio of long-term bonds that they purchased many years ago. The bonds pay 8% interest annually, and the face value

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Mom and Pop had a portfolio of long-term bonds that they purchased many years ago. The bonds pay 8% interest annually, and the face value is $100,000. If Mom and Pop are in the 24% 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 0.61 %. (Round to two decimal places.)

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