Question: Please explain the steps and equations you use. #16 A tax-exempt municipal bond with a coupon rate of 4.00% has a market price of 98.79%

Please explain the steps and equations you use. #16 A tax-exempt municipalPlease explain the steps and equations you use.

#16 A tax-exempt municipal bond with a coupon rate of 4.00% has a market price of 98.79% of par. The bond matures in 20.00 years and pays semi-annually. Assume an investor has a 30.00% marginal tax rate. The investor would prefer otherwise identical taxable bond if it's yield to maturity was more than % unanswered not submitted Submit Attempts Remaining: Infinity Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) #17 A taxable bond with a coupon rate of 6.00% has a market price of 99.32% of par. The bond matures in 10.00 years ans pays semi-annually. Assume an investor has a 24.00% marginal tax rate. The investor would prefer otherwise identical tax-exempt bond if it's yield to maturity was more than % unanswered not_submitted Submit Attempts Remaining: Infinity Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

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