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The interest rate on a risk-free taxable bond is 3.5%. The rate on a non-taxable risk free bond is 2.75% if your personal tax rate

The interest rate on a risk-free taxable bond is 3.5%. The rate on a non-taxable risk free bond is 2.75% if your personal tax rate is 20%, which bond will you invest in? What if your personal tax rate is 30%?

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