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What is the tax-equivalent yield of a double tax-free 5% municipal bond if the investor...

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Accounting

What is the tax-equivalent yield of a double tax-free 5% municipal bond if the investor is in the 28% federal and 7% state tax brackets, assuming the client doesnt itemize deductions? A) 6.94% B) 7.14% C) 7.47% D) 7.69%

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