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Suppose an investor's marginal income tax rate is 28 percent and that a tax-free municipal bond is purchased with a yield of 7 percent. Considering

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Suppose an investor's marginal income tax rate is 28 percent and that a tax-free municipal bond is purchased with a yield of 7 percent. Considering only the federal income tax effect, this yield would be equivalent to that received on a taxable bond with a yield of HTML Editores BIVA-A- IK EE311xx, EE TT: 12pt Paragraph

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