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Which one of the following is a false statement? A Municipal bonds are issued by state and local governments B Municipal bonds pay interest that

Which one of the following is a false statement?

A Municipal bonds are issued by state and local governments

B Municipal bonds pay interest that is federally tax-free

C Treasury bonds are considered to be free of default risk

D Municipal bonds are considered to be free or default risk

E Floating-rate bonds have a variable coupon, depending on some index value

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