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What municipal bond yield is equivalent to a corporate bond yielding 11.75%? The tax rate is 28%. Enter the value in percentage format (i.e. 5.13),

What municipal bond yield is equivalent to a corporate bond yielding 11.75%? The tax rate is 28%. Enter the value in percentage format (i.e. 5.13), not decimal format (i.e. .0513). Round your answer to 2 decimal places. Do not enter the % sign.

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