A bank is considering two securities: a $30-$year Treasury bond yielding $7$ percent and a $30-$year municipal bond yielding $6$ percent.

a$.$ If the bank's tax rate is $30$ percent, calculate the Treasury bond's tax equivalent yield.

Note: Round your answer to $1$ decimal place. $($e$.$g$.,32\mathrm{.}1)$

b$.$ Which bond offers the higher tax equivalent yield?

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