You buy a principal STRIP maturing in five years. The price quote per hundred of par for the STRIP is $85\mathrm{.}75$ percent. Using semiannual compounding, what is the promised yield to maturity on the STRIP?

Calculate the tax$-$equivalent yield if your marginal tax rate is $28$ percent.

Calculate the tax$-$equivalent yield if your marginal tax rate is $21$ percent.