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TIMED TEST 1.5 HOURS Suppose the tax rate on interest income is 45%, and the average tax rate on capital gains and dividend income is

***TIMED TEST 1.5 HOURS***

Suppose the tax rate on interest income is 45%, and the average tax rate on capital gains and dividend income is 10%. How high must the marginal corporate tax rate be for debt to offer a tax advantage? round to two decimal places

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