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Pamela is a wealthy widow who has come to you for tax advice. She is in the 32 percent tax bracket. She has a choice
Pamela is a wealthy widow who has come to you for tax advice. She is in the 32 percent tax bracket. She has a choice between investing in a high-quality municipal bond paying 3.7 percent or a high-quality corporate bond paying 6.5 percent. From a tax standpoint, which investment would you advise her to make and why
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