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Which of the following statements are true regarding taxation of Treasury notes and bonds? a. Notes and bonds are taxed differently than T-bills. b. Original

Which of the following statements are true regarding taxation of Treasury notes and bonds?

a. Notes and bonds are taxed differently than T-bills.

b. Original issue discount tax rules apply.

c. Interest income and capital gains are exempt from state and local taxes.

d. Interest income and capital gains are exempt from federal taxes.

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