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What is the tax-equivalent yield of a double tax-free 5% municipal bond if the investor is in the 22% federal and 6% state tax brackets?

  1. What is the tax-equivalent yield of a double tax-free 5% municipal bond if the investor is in the 22% federal and 6% state tax brackets?

    5.97%

    6.82%

    4.96%

    7.82%

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