For every $100, you receive $6. Uncle Sam takes 20% of $6, or $1.20. Your after-tax rate
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For every $100, you receive $6. Uncle Sam takes 20% of $6, or $1.20. Your after-tax rate of return is
$4.80/$100 = 4.8%. You could have also computed (1 − 20%) . 6% = 4.8% directly.
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