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Jake Baldwin is looking for a fixed-income investment. He is considering two bond issues: ...

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Accounting

Jake Baldwin is looking for a fixed-income investment. He is considering two bond issues:
a. A Treasury with a yield of 5.23%
b. An in-state municipal bond with a yield of 3.84%
Jake is in the 32% federal tax bracket and the 6% state tax bracket. Which bond would provide him with a higher tax-adjusted yield?

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