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Problem P5-9 (similar to) Based on the after-tax returms, at what federal tax rate (as shown in Chapter 4) is an investor better off choosing

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Problem P5-9 (similar to) Based on the after-tax returms, at what federal tax rate (as shown in Chapter 4) is an investor better off choosing a tax-exempt 5.06 percent municipal bond over a taxable 725 percent corporate bond? The after-tax returm on the corporate bond when the tax rate is 10% is sN(Round to two decimal places)

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