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Problem 2-25 Municipal Bond Interest (LO 2.11) Vandell is a taxpayer in the 28 percent tax bracket. He invests in Otay Mesa Water District Bonds

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Problem 2-25 Municipal Bond Interest (LO 2.11) Vandell is a taxpayer in the 28 percent tax bracket. He invests in Otay Mesa Water District Bonds that pay 4.5 percent interest. What taxable interest rate will provide the same after-tax return to Vandell? Enter your answer as a percentage, rounded to two decimal places

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