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The interest paid on any municipal bond is: O free of both default risk and federal income taxation. O taxable at the federal level and
The interest paid on any municipal bond is: O free of both default risk and federal income taxation. O taxable at the federal level and tax exempt at the state and local level O subject to default risk and is exempt from state income taxation. O exempt from federal income taxation and may or may not be exempt from state taxation. O free of default risk
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