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Phil's marginal tax rate is 22 percent. If corporate bonds pay 11 percent interest, what interest rate would a municipal bond need to offer for
Phil's marginal tax rate is 22 percent. If corporate bonds pay 11 percent interest, what interest rate would a municipal bond need to offer for Phil to be indifferent between the two bonds? Note: Do not round your final answer.
Multiple Choice 22.00 percent 13.20 percent 11.00 percent 10.00 percent None of the choices are correct.
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