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Municipal bond M pays a yield of 6.77 percent, if your marginal tax rate is 28 percent, Calculate the tax equivalent yield (round your answers

Municipal bond M pays a yield of 6.77 percent, if your marginal tax rate is 28 percent, Calculate the tax equivalent yield (round your answers to 3 decimal places. e.g., 32.161)

Multiple Choice 9.403% 9.420% 9.395%

9.412%

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