A tax-exempt municipal bond with a coupon rate of 9.00% has a market price of...
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A tax-exempt municipal bond with a coupon rate of 9.00% has a market price of 99.06% of par. The bond matures in 7.00 years and pays semi-annually. Assume an investor has a 28.00% marginal tax rate. The investor would prefer otherwise identical taxable bond if it's yield to maturity was more than _____%
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