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What is the tax exempt equivalent yield on a 7% bond yield given a marginal tax rate of 20%? a.5.60% b.5.83% c.8.75% d.7.00%

What is the tax exempt equivalent yield on a 7% bond yield given a marginal tax rate of 20%?

a.5.60%

b.5.83%

c.8.75%

d.7.00%

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