Question $1$

A municipal bond's yield to maturity is $7\mathrm{.}78\%.$ What is the taxable equivalent corporate bond

yield using a $21\%$ tax rate?

$9\mathrm{.}85\%$

$6\mathrm{.}37\%$

$6\mathrm{.}15\%$

$9\mathrm{.}41\%$