Question: Problem 7 - 1 6 Taxable Equivalent Yield ( LG 7 - 6 ) What s the taxable equivalent yield on a municipal bond with

Problem 7-16 Taxable Equivalent Yield (LG7-6)
Whats the taxable equivalent yield on a municipal bond with a yield to maturity of 3.7 percent for an investor in the 28 percent marginal tax bracket? (Round your answer to 2 decimal places.)

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