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Which of the following is TRUE of BABs? A. Interest received from BABs may or may not be taxable to bondholders, depending on the investors

Which of the following is TRUE of BABs?

A. Interest received from BABs may or may not be taxable to bondholders, depending on the investors tax bracket

B. Interest received from BABs is taxable on the federal level only.

C. Interest received from BABs is taxable on the state level only.

D. Interest received from BABs is taxable on the state and federal level.

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