Problem 7-32 Comparing Bond Yields (LG7-6) A client in the 26 percent marginal tax bracket is comparing a municipal bond that offers a 5.4 percent yield to maturity and a similar risk corporate bond that offers a yield of 8.00 percent Determine the equivalent taxable yield. (Round your answer to 2 decimal places.) Equivalent tacable yield Which bond will give the client more profit after taxes? municipal bond corporate bond