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Suppose a 10-year US Treasury Note is yielding 1.51%, and a 10-year Lubbock County Note is yielding 1.10%. If an investor has a marginal tax

Suppose a 10-year US Treasury Note is yielding 1.51%, and a 10-year Lubbock County Note is yielding 1.10%. If an investor has a marginal tax rate of 25%, calculate the tax-equivalent yield for the tax-exempt bond. (Enter percentages as decimals and round to four decimals)

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