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Please couldl gou explain me 12. A client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 4.5 percent

Please couldl gou explain me 12. A client in the 33 percent marginal tax bracket is comparing a municipal bond that offers a 4.5 percent yield to maturity and a similar risk corporate bond that offers a 6.45 percent eorporate honO yield. Which bond will give the client more profit after taxes? (LG 6-2)

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