Suppose you are in the 20% tax bracket and buy a Municipal Bond yielding 4%. Which of the following is true:

Select one:

a. Your yield on this bond is 4% if you purchased it in your IRA.

b. Your taxable equivalent yield on this bond is 5% if you purchased it in your taxable brokerage account.

c. Both statements are correct.

d. Neither of the two statements is correct.