A municipal bond carries a coupon of 6 3/4 percent and is trading at par. To a
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A municipal bond carries a coupon of 6 3/4 percent and is trading at par. To a taxpayer in the 34 percent tax bracket, what would the taxable equivalent yield of this bond be?
a. 4.5 percent
b. 10.2 percent
c. 13.4 percent
d. 19.9 percent.
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Related Book For
Fundamentals Of Investments Valuation And Management
ISBN: 9781266824012
10th Edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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