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  3. a municipal bond carries a coupon rate of 7.25% an

A municipal bond carries a coupon rate of 7.25% and is trading at par. What...

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A municipal bond carries a coupon rate of 7.25% and is trading at par. What would be the equivalent taxable yield of this bond to a taxpayer in a 35% tax bracket? (Round your answer to 2 decimal places.)

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