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Suppose a municipal bond has a YTM of 3.05 percent and the applicable tax rate is 33 . What is the equivalent pretax YTM for

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Suppose a municipal bond has a YTM of 3.05 percent and the applicable tax rate is 33 . What is the equivalent pretax YTM for a taxable bond? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below. The answer in the box should be a percent listed to two decimal places. For example, if your answer is 5.21%, you should put 5.21 in the box and not 5.21% or 0.0521.)

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