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Nicholas earned 12.5% in his savings account. If he is in the 29% tax bracket, what is his after-tax savings rate of return? (Round your

Nicholas earned 12.5% in his savings account. If he is in the 29% tax bracket, what is his after-tax savings rate of return? (Round your answer to 2 decimals.)

Multiple Choice

12.50%
8.88%
3.13%
29.00%
4.50%

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