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Suppose you invest in a taxable corporate bond that is yielding 12% annual interest rate. If your marginal tax is 27%, what is the after-tax

Suppose you invest in a taxable corporate bond that is yielding 12% annual interest rate. If your marginal tax is 27%, what is the after-tax or equivalent tax-exempt yield on the taxable bond? (Round your answer to 2 decimal places)

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