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Problem 7-16 Taxable Equivalent Yield (LG7-6) What's the taxable equivalent yield on a municipal bond with a yield to maturity of 3.4 percent for an

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Problem 7-16 Taxable Equivalent Yield (LG7-6) What's the taxable equivalent yield on a municipal bond with a yield to maturity of 3.4 percent for an investor in the 28 percent marginal tax bracket? (Round your answer to 2 decimal places.) Taxable equivalent yield

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