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Problem 1-46 (LO 1-3, LO 1-4) Fergie has the choice between investing in a State of New York bond at 5.4 percent and a Surething

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Problem 1-46 (LO 1-3, LO 1-4) Fergie has the choice between investing in a State of New York bond at 5.4 percent and a Surething bond at 8.6 percent. percent marginal tax rate, what interest rate does the state of New York bond need to offer to make Fergie indifferent betw answer to 2 decimal places.) Assuming that both bonds have the same nontax characteristics and that Fergie has a 30 een investing in the two bonds? (Do not round intermediate calculations. Round your

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