An investor in the 28 percent marginal tax bracket who is offered a 5 percent municipal bond
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An investor in the 28 percent marginal tax bracket who is offered a 5 percent municipal bond would have to receive 0.05 / (1 0.28) = 6.94% from a comparable taxable bond to be as well off.
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Sultan Ghulam Dastgir
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Related Book For
Investments Analysis And Management
ISBN: 9781118975589
13th Edition
Authors: Charles P. Jones, Gerald R. Jensen
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