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Please explain in excel: A municipal bond has a coupon rate of 4.5% and just...

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Finance

Please explain in excel:

A municipal bond has a coupon rate of 4.5% and just sold for 104.56. It matures on December 1, 2023. What is its tax-equivalent yield? Assume a marginal tax rate of 40% and interest is paid June 1 and December 1.

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