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Your client purchased Main municipal bond that has 6.93% municipal bond yield. Federal tax bracket is 33%. Calculate pretax yield on taxable securities of comparable

Your client purchased Main municipal bond that has 6.93% municipal bond yield. Federal tax bracket is 33%. Calculate pretax yield on taxable securities of comparable maturity and risk, also called Taxable Equivalent Yield, for your client.

Please round the final answer to two decimal places in percentage form.

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