Question $4$

$3$ points

Taxable bonds are yielding $10\%.$ If you have a marginal income tax rate of $30\%,$ what is the expected yield on a tax$-$free municipal bond of equivalent risk to the taxable bond? Write your answer as a percentage, rounded to two decimals, but omit the percent sign. E$.$g$.,$ if the answer is $8\mathrm{.}346\%,$ write your answer as $"8\mathrm{.}35.$