Assume you are in the 35 percent tax bracket and purchase a municipal bond with a yield
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Assume you are in the 35 percent tax bracket and purchase a municipal bond with a yield of 3.20 percent. Use the formula presented in this chapter to calculate the taxable equivalent yield for this investment.
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The taxequivalent yield is 492 perc...View the full answer
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Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
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